Misonix sells assets of Acoustic Marketing Research (Sonora Medical Systems) to Medical Imaging Holdings

Tue. October 06, 2009; Posted: 03:11 PM

Oct 06, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- MSON | Quote | Chart | News | PowerRating -- Misonix, Inc. has sold substantially all of the assets of its subsidiary, Acoustic Marketing Research, Inc. (doing business as Sonora Medical Systems, Inc.) to Medical Imaging Holdings, Inc. for $8 million in cash.

Misonix is a developer and manufacturer of therapeutic ultrasonic medical devices and laboratory equipment. Sonora Medical Systems is a developer and marketer of test equipment and biomedical tools for the ultrasound diagnostic imaging field and other specialty markets.

Medical Imaging Holdings is a holding company formed by healthcare private equity firm Galen Partners. All the companies involved in the transaction are based in the US.

Sonora Medical Systems business will be combined with the businesses of Barrington Medical Imaging and Echoserve, which were acquired by Medical Imaging Holdings on September 18, 2009.

Deal Value (US$ Million) 8
Deal Type                Acquisition
Sub-Category             Asset Purchase
Deal Status              Completed: 2009-10-05

Deal Participants

Target (Company)   Sonora Medical Systems, Inc. - Assets
Acquirer (Company) Medical Imaging Holdings, Inc.
Vendor (Company)   Misonix, Inc.

Deal Rationale

The acquisition will enable Medical Imaging Holdings to expand and further differentiate its service offerings and technical capabilities, as well as provide an advanced research and development capability for continued innovation. The sale of Sonora Medical Systems business will allow Misonix to accelerate the growth of its expanding therapeutic medical device business. These funds will be used for potential acquisitions of new products that can be sold together with its present products in its existing sales distribution, additional selling capability, product development, the licensing of new technology and general corporate purposes, among other uses.

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