The assets to be sold include related equipment, inventory (excluding Bloom finished goods inventory), general intangibles, and intellectual property necessary to design, manufacture, market, sell, distribute, support, and repair the product lines, Fischer said.
Under the terms of the RE&S agreement, Byers agreed to pay $260,000 and up to another $80,000, depending on the number of Bloom units it sells in the year after closing.
Fischer said it plans to continue to meet its RE&S service and warranty obligations until the completion of the sale of the RE&S assets by utilizing the services of Byers Peak through a manufacturing services agreement and other contractors.
In related news, Fischer's board of directors filed Chapter 11 in the United States Bankruptcy Court for the District of Colorado yesterday. The company said it anticipates that in either a Chapter 11 or Chapter 7 liquidation, pending approval of the liquidation plan, the liquidation process would occur over a one- to two-year period.
By AuntMinnie.com staff writers
August 23, 2006
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Hologic acquires Fischer mammo assets, September 29, 2005
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