Elekta to acquire Impac

Swedish radiation therapy firm Elekta has reached an agreement to acquire radiation oncology information systems firm Impac Medical Systems of Mountain View, CA.

Under the terms of the agreement, Stockholm-based Elekta will pay $24 (U.S.) in cash for each outstanding share of Impac common stock, which represents a premium of 22% over the firm's closing price on January 14. This equates to a diluted equity value of approximately $250 million and an enterprise value of approximately $190 million, Elekta said.

The acquisition will enable Elekta to offer products addressing the entire spectrum of the cancer care process, from diagnosis through treatment planning, treatment delivery, and follow-up, including cancer registry and decision support, the company noted. In addition, the companies' complementary geographic footprints will allow for deployment of Impac's solutions into Europe and Asia/Pacific, while enabling it to offer its U.S. customers Elekta's radiation therapy products.

Combined, Elekta and Impac will have relationships with more than 3,000 hospitals and cancer centers worldwide, including more than 1,300 oncology centers, 1,100 cancer registry operations, and 400 pathology laboratories in North America, Elekta said.

The merger is contingent upon approval of the transaction by Impac's stockholders, receipt of Hart-Scott-Rodino regulatory approval, and other customary closing conditions.

By AuntMinnie.com staff writers
January 18, 2005

Related Reading

Impac posts profitable Q4, fiscal year, December 16, 2004

Elekta taps PerkinElmer, October 25, 2004

Impac adds European clients, October 22, 2004

Elekta nets U.K. order, October 22, 2004

Impac, Elekta ink deal, October 6, 2004

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