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

A PET/CT head and neck cancer scan.

A PET/CT head and neck cancer scan.

Feature | Nuclear Imaging | November 05, 2018 | By Sabyasachi Ghosh
“Experimental validation implemented in real-life situations and not theoretical claims exaggerating small advantages
Technology and Radionucleotide Development Will Fuel Mobile Gamma Camera Adoption
News | Nuclear Imaging | September 27, 2018
Advancements in healthcare technology, particularly in the surgery category, have led to an increasing adoption of...
Brain Study of 62,454 Scans Identifies Drives of Brain Aging
News | SPECT Imaging | August 27, 2018
In the largest known brain imaging study, scientists from five institutions evaluated 62,454 brain single photon...
Siemens Healthineers Announces FDA Clearance of syngo.via VB30 Molecular Imaging Software
Technology | Nuclear Imaging | July 16, 2018
At the 2018 Annual Meeting of the Society of Nuclear Medicine and Molecular Imaging (SNMMI), June 23-26 in Philadelphia...
MILabs Introduces Futuristic PET Capabilities on New VECTor6 System
Technology | PET Imaging | June 28, 2018
At the 2018 Society of Nuclear Medicine and Molecular Imaging (SNMMI) annual meeting, June 23-26, in Philadelphia,...
New ASNC SPECT Imaging Guideline Addresses Advances in Myocardial Perfusion Imaging
News | SPECT Imaging | June 21, 2018
The American Society of Nuclear Cardiology (ASNC) has published an update to its 2010 guidelines for single photon...
News | Computed Tomography (CT) | May 21, 2018
The Istituto Oncologico Veneto (IOV) in Padua, Italy, has acquired MILabs’ latest-generation Versatile Emission...
The Chalk River nuclear reactor license has been renewed, but will be decommissioned by 2028.

The Chalk River nuclear isotope reactor license has been renewed, but will be decommissioned by 2028. The reactor supplies about 50 percent of the world's supply of Tc99m.

Feature | Nuclear Imaging | April 02, 2018 | Dave Fornell
April 2, 2018 – The Canadian Nuclear Safety Commission (CNSC) announced March 29 that it renewed Canadian Nuclear Lab
A Tc99m SPECT cardiac exam showing myocardial perfusion in the heart.

Technetium-99m is primarily used for the detection of cancer and to assess perfusion defects in the heart caused by heart attacks or other conditions.

Feature | Radiopharmaceuticals and Tracers | February 08, 2018 | Dave Fornell
February 8, 2018 — The U.S.