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Elekta says in talks to acquire US treatment planning firm CMS


Published :
Tue, 08 Jan 2008 08:36
By : Agencies
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STOCKHOLM (Thomson Financial) - Elekta AB said that it is in exclusive negotiations based on a Letter of Intent to acquire US treatment planning firm CMS Inc, for a total cash consideration representing an enterprise value of 75 mln usd.

Elekta said that St Louis-based CMS, which is owned by a private equity fund managed by investment bank Brown Brothers Harriman, is a worldwide leader in the development, sales and support of advanced radiation therapy planning solutions.

'The acquisition of leading treatment planning software developer would strengthen Elekta's offering and accelerate the company's expansion into high growth oncology informatics,' Elekta said.

Elekta said that it expects the acquisition, if successful, to add to group earnings on a cash basis already from fiscal year 2008/2009, but with reported earnings 'mildly' diluted as a result of expected amortization of intangibles associated with the acquisition and other balance sheet adjustments.

CMS has 290 employees worldwide, and in the fiscal year 2007 (ending September), the company grew its order intake by 21 pct to 61 mln usd.

The negotiations are expected to be finalized by mid-February 2008 and closing is estimated to take place by mid March 2008, Elekta said.

hans.chumakonde@thomson.com

hc/slm

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