EES Receives Offer To Purchase Breast Care Business
The EES Breast Care business sells products designed to help doctors diagnose breast cancer at early stages, while minimizing patient discomfort. Financial terms of the offer are not being disclosed.
Upon close of the proposed transaction, Devicor would acquire the entire EES Breast Care product portfolio that is sold in more than 38 countries worldwide and includes the Mammotome Breast Biopsy System and tissue markers (MammoMARK, MicroMARK, and CoreMARK used for breast disease diagnostic sampling and management.
Additionally, the EES Breast Care business would transfer its marketing and distribution rights for Neoprobe Gamma Detection Systems to Devicor. The acceptance period for the offer will end on June 15, 2010, unless extended, and during this period EES will consult with relevant works councils and trade unions.
If the offer is accepted by EES, the proposed transaction will be subject to the fulfillment of certain conditions, including but not limited to, the receipt of applicable anti-trust clearances, and it would be expected to close by the third quarter of 2010. If the transaction is completed, the majority of EES associates who are primarily dedicated to the Breast Care business are expected to transfer to Devicor, subject to local laws.
Karen Licitra, company group chairman, and worldwide franchise chairman at EES, said: “As we continually prioritize strategic investments that are aligned with our future growth platforms, we determined that the Breast Care products are outside of this scope, and decided to explore the potential sale of the business. We believe this offer demonstrates commitment from Devicor and GTCR to develop the breast care business to its full potential.”
Will the acquisition benefit EES?
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