Analogic divests Cedara stake

Analogic has sold its 14.6% stake in Cedara Software, realizing net proceeds of $50.8 million.

Analogic president and CEO John Wood said that the company had originally invested in Cedara in September 2001 to secure access to its medical imaging software. With the firm's turnaround, Cedara no longer requires Analogic's ongoing support, and Analogic anticipates it will continue to meet its objectives in medical imaging software through various contractual arrangements and strategic alliances, Wood said.

Cedara recently signed a long-term contract to provide its image processing software to Analogic and its subsidiaries, including digital x-ray division Anexa. Cedara and Anexa also inked a cooperative agreement in which each firms' sales organizations would promote each other's products and work jointly to offer integrated imaging systems to end-users in the North American market.

By staff writers
February 18, 2005

Related Reading

Analogic gets EXACT order, February 9, 2005

Analogic back on Nasdaq, February 8, 2005

Merge to join with Cedara, January 18, 2005

Analogic to redo more financial statements, January 17, 2005

Copyright © 2005

Page 1 of 384
Next Page