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Barco sells Advanced Visualization business to Toshiba
November 21, 2008
Source: Barco
Medical imaging specialist Barco has entered
into an agreement to sell its Advanced Visualization activities
to Toshiba Medical Systems Corporation, Tokyo, Japan (Toshiba)
via its newly formed, wholly-owned subsidiary, Toshiba Medical
Visualization Systems Europe, Ltd., Edinburgh, UK (TMVS).
'Advanced Visualization' was part of Barco's Medical Imaging
Division through the acquisition of the Voxar company. The
divestment operation, which is subject to approvals from relevant
antitrust authorities, is expected to close within a few months.
Both parties have agreed not to disclose the financial terms
of the transaction.
Based in Edinburgh, Scotland, Barco's Advanced Visualization
(AVIS) group is specialized in 3D clinical software solutions,
marketed worldwide under the product names 'Voxar 3D' and
'Voxar 3D Enterprise'. As part of the agreement, TMVS will
become the new owner of all AVIS assets, including its full
product portfolio. TMVS will help support the development
of 3D volume rendering and advanced visualization capabilities
for all Toshiba modalities.
"This acquisition and the formation of TMVS allows for
a critical multi-modality research and development center
in Europe, an area of the world widely acknowledged for its
innovations in medicine," said Kenichi Komatsu Ph. D.,
president and CEO, Toshiba Medical Systems Corporation. "This
demonstrates Toshiba's strong commitment to our customers
worldwide as well as the healthcare industry in Europe."
Martin De Prycker, CEO of Barco, explains "The decision
to divest our AVIS activities comes after a careful and deliberate
evaluation of Barco's business portfolio. It fits within the
strategic focus of Barco's medical imaging division, concentrating
all resources on the development and marketing of innovative
medical display systems for diagnostic, surgical and clinical
imaging along with custom-built solutions for medical OEMs
worldwide. Barco has been a leader and pioneer in this area
for almost twenty years and is committed to further increase
its leading position in the healthcare imaging market in the
years to come. In this way the divestiture of our AVIS activities
is fully in line with our long-term overall strategy to continue
creating value for our shareholders."
Mr De Prycker adds: "This transaction will have a positive
impact on the results of the quarter in which it is closed.
The divestiture of our AVIS activities will also contribute
to the cost-reduction program communicated earlier this year."
Barco's CEO also indicated that Barco will communicate the
exact impact of this transaction after the closing.
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