Berlin, September 5, 2008 - Eckert & Ziegler Strahlen- und Medizintechnik AG, through its Californian subsidiary Eckert & Ziegler Isotope Products, Inc (EZIP), has entered into a definite agreement with North American Scientific (NASM) for the purchase of its Non-Therapeutic Sealed Source Business. The product line includes radiation sources and standards used in a variety of areas for calibration, measurement, analysis and control. The transaction value, if certain revenue targets are met, can reach up to $6 million.
"Eckert & Ziegler Isotope Products is very excited to be adding the NASM Sealed Source portfolio to our own. NASM has many outstanding technologies that perfectly complement ours. With the addition of the Featherlite™ to the Perflexion™, we believe that we have the two leading product technologies for Co57 Flood Sources", said Frank Yeager, President & CEO of Eckert & Ziegler Isotope Products. "The acquisition will allow our strongest and most profitable segment, the Medical Imaging and Industrial Segment, to show double digit growth in revenues and profits in 2009", adds Andreas Eckert, CEO of Eckert & Ziegler AG. "We are hence optimistic that the group will be able to continue its historic growth rates."
"This divestiture allows us the opportunity to focus solely on growing the therapeutic areas of our business", said John Rush, President and CEO of North American Scientific. "Eckert & Ziegler is a market leader in the non-therapeutic radioisotope business. They will serve our customers as well or better than we would be capable of moving forward. This transaction is a win-win for all involved."
For over forty (40) years, Eckert & Ziegler Isotope Products, has been producing instrumentation and calibration standards. Today it is the world's leading manufacturer for nuclear imaging reference and calibration standards and a leading producer of radioactive components for industrial, scientific and medical applications. Eckert & Ziegler AG is a global isotope technology company that processes radioisotopes as well as develops, manufactures and sells isotope technology components, medical technology equipment and related products. The group employs about 430 people worldwide. Throughout all of its subsidiaries it generates yearly consolidated revenues in excess of $ 100 MM (70 Mio. EUR). Eckert & Ziegler AG is listed in the Prime Standard of the German Stock Exchange in Frankfurt am Main (ISIN DE0005659700).
The Board of Directors