Bone densitometer firm Hologic has completed its purchase of Direct Radiography Corp. from SDI Holding, the parent company of Agfa subsidiary Sterling Diagnostic Imaging. The deal was valued at around $20 million, consisting of $7 million in cash
Bone densitometer firm Hologic has completed its purchase of Direct Radiography Corp. from SDI Holding, the parent company of Agfa subsidiary Sterling Diagnostic Imaging. The deal was valued at around $20 million, consisting of $7 million in cash and about 1.9 million shares of Hologic common stock. The purchase amount decreased sharply from the initial agreement, which was valued at about $30 million. Hologic was able to get some price concessions in exchange for a speedy closing, said David Ellenbogen, Hologic chairman and CEO.
As a result of the acquisition, Hologic receives about 90 employees, a 168,000-square-foot research, development, manufacturing, and administrative site in Newark, DE, 26 U.S. patents, and a number of foreign patents.
Hologic plans to market DRCs DirectRay digital radiography technology via a number of channels, including OEM opportunities. Discussions with several potential OEM clients are under way, Ellenbogen said.
The company will also participate in the retrofit sector, equipping recently purchased traditional x-ray rooms with DirectRay detectors to pave the way for PACS, he said. In addition to the firms first retrofit site at Brooke Army Medical Center in Fort Sam Houston, TX, DRC has installed a retrofit at an undisclosed location. DRC is taking orders now for retrofits.
Finally, Bedford, MA-based Hologic will continue DRCs direct sales efforts with its traditional iiRAD systems. In future development plans, Hologic expects to bring DirectRay technology suitable for fluoroscopy and mammography applications to market. Commercialization of these products will not occur for at least a year, however, Ellenbogen said.
© 1999 Miller Freeman, Inc.All rights reserved.
ASCO: Study Reveals Significant Racial/Ethnic Disparities with PSMA PET Use for Patients with mPCa
May 30th 2025Latinx patients with metastatic prostate cancer were 63 percent less likely than non-Hispanic White patients to have PSMA PET scans, according to a study of 550 patients presented at the American Society of Clinical Oncology (ASCO) conference.
Lunit Unveils Enhanced AI-Powered CXR Software Update
May 28th 2025The Lunit Insight CXR4 update reportedly offers new features such as current-prior comparison of chest X-rays (CXRs), acute bone fracture detection and a 99.5 percent negative predictive value (NPV) for identifying normal CXRs.
New MRI Study Questions Use of Corticosteroid Injections for Knee OA
May 27th 2025Two years after intraarticular knee injections for knee osteoarthritis (OA), study participants who had corticosteroid knee injections had greater OA progression than control patients while the use of hyaluronic acid injections was associated with less OA progression.