News | August 07, 2007

Orbotech Pays $30 Million for Gamma Camera Business

August 8, 2007 - Orbotech Ltd. announced that it has signed a definitive agreement to acquire 3D - Danish Diagnostic Development A/S (DDD), a privately-held Danish company that develops and manufactures gamma cameras for nuclear medicine, as part of a strategy to generate a projected $30 million in annual revenues, which is expected to be immediately accretive to Orbotech on a non-GAAP basis.

DDD is the world's leading manufacturer of cardiac gamma cameras, which it markets primarily in the United States through major industry suppliers that distribute them under their own brands.

Orbotech will pay approximately $39 million to the stockholders of DDD for the acquisition of all of the outstanding shares of DDD. In addition, Orbotech will pay to the stockholders of DDD an earn-out, capped at approximately $6.5 million, based on DDD's performance during the years 2007 and 2008. The acquisition will be financed from internally-generated funds.

CEO of Orbotech Rani Cohen said, "This acquisition is an important step in our strategy for growth and diversification into medical imaging as an original equipment manufacturer (OEM) of highly innovative technologies. DDD is an exceptional company with highly talented employees, world-class know-how and products whose outstanding caliber is recognized by the largest players in the industry. Moreover, the acquisition presents an opportunity for Orbotech to leverage its strong operational capabilities and resources." Mr. Cohen added: "The medical imaging industry presents solid growth drivers that will complement and balance Orbotech's core electronics business and deliver immediate and future value to our shareholders."

Following completion, DDD will form part of Orbotech's medical imaging operations.

For more information: www.orbotech.com

Related Content

Philips Launches CardioMD IV Cardiac SPECT Solution at ASNC 2017
Technology | SPECT Imaging | September 15, 2017
September 15, 2017 — Philips highlighted its newest solution for...
Videos | Nuclear Imaging | August 24, 2017
Prem Soman, M.D., director of nuclear cardiology at the Heart and Vascular Institute, University of Pittsburgh, and p
Videos | Nuclear Imaging | August 24, 2017
Randy Thompson, M.D., attending cardiologist, St.
advanced visualization
News | Molecular Imaging | June 09, 2017
The Food and Drug Administration (FDA) has cleared syngo.via VB20 for Molecular Imaging (MI) from Siemens Healthineers...
News | SPECT-CT | June 08, 2017
Siemens Healthineers debuts Symbia Intevo Bold at the 2017 annual meeting of the Society of Nuclear Medicine &...
Videos | Nuclear Imaging | April 28, 2017
David Wolinsky, M.D., director of nuclear cardiology at Cleveland Clinic Florida and past-president of the American S
SPECT/CT Imaging Test Shown Accurate in Ruling Out Kidney Cancers
News | SPECT Imaging | April 24, 2017
The latest in a series of studies led by researchers at Johns Hopkins Medicine shows that addition of a widely...
brain SPECT imaging, dementia, depression, Daniel G. Amen

Representative brain SPECT scans in a patient with Alzheimer's dementia showing substantially reduced brain blood flow in the temporal and parietal lobes compared to a person with depression with mild decreased frontal lobe blood flow. Image courtesy of Amen Clinics.

News | SPECT Imaging | February 22, 2017
February 22, 2017 — Does a patient have depression or a cognitive disorder (CD) such as Alzheimer's disease or both?
News | Nuclear Imaging | December 12, 2016
Molecular Targeting Technologies, Inc. (MTTI) announces that response of colorectal cancer to treatment can be detected...
xSPECT Quant technology, SPECT/CT, Symbia Intevo, Siemens Healthineers, RSNA 2016
News | SPECT Imaging | December 06, 2016
December 6, 2016 — At the 102nd Scientific Assembly and Annual Meeting of the Radiological Society of North America (
Overlay Init