Norland merges with European firm

June 9, 2003

Bone densitometer manufacturer Norland has improved its internationalstatus. The Fort Atkinson, WI, company merged with Stratec Medizintechnik,an x-ray bone densitometer manufacturer based in Birkenfeld, Germany. The two companies have been

Bone densitometer manufacturer Norland has improved its internationalstatus. The Fort Atkinson, WI, company merged with Stratec Medizintechnik,an x-ray bone densitometer manufacturer based in Birkenfeld, Germany.

The two companies have been consolidated under Norland MedicalSystems, a Dutch holding company. Norland Medical Systems hasalso created Osteo Diagnostics to combine the international activitiesof Norland and Stratec.

Norland has pursued an aggressive growth strategy since catheterfirm Cordis sold the company to Novatech Management, an investmentgroup led by Albert S. Waxman, founder and former chairman ofDiasonics (SCAN 5/23/90 and 6/5/91). The chairman and CEO of NorlandMedical Systems is Reynald Bonmati, Waxman's partner in Novatech.

Norland Medical Systems will concentrate research efforts inBirkenfeld and will maintain manufacturing plants in Germany andWisconsin. The company has announced that it will focus on marketingStratec's peripheral quantitative CT system, the XCT-900. TheXCT-900 measures bone density in the wrist and will be marketedto pharmaceutical companies conducting osteoporosis drug research.

The new Norland is still privately owned, but intends to gopublic at some time in the future, according to Bonmati.

BRIEFLY NOTED:

  • Shareholders of Westmark International approved the spin-offof patient monitoring subsidiary SpaceLabs from ultrasound subsidiaryATL at the firm's annual meeting this month (SCAN 2/26/92).

Focusing purely on medical ultrasound, Westmark will take thename of its former subsidiary, Advanced Technology Laboratories,and start trading on the NASDAQ market on June 29 under the symbolATLI. SpaceLabs Medical will also trade on NASDAQ, beginning June17, under the symbol SLMD.