Imaging vendor Hologic said that it has completed the acquisition of Denver-based Fischer Imaging's intellectual property related to its mammography business and products.
Earlier this month, the deal appeared to have hit a snag, but Fischer reported late yesterday that it had obtained the votes necessary to approve the asset purchase agreement of June 22 this year.
The Bedford, MA-based Hologic said that of the $32 million purchase price, approximately $26.9 million was paid out of existing cash with the remaining amount paid through the cancellation of the principal and interest outstanding under the $5 million secured loan previously provided by the firm to Fischer. Hologic expects to incur a one-time charge of approximately $4 million to write off in-process research and development with no future value in the first quarter of its fiscal 2006, which ends on December 24 of this year.
By AuntMinnie.com staff writers
September 29, 2005
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