North American Scientific Signs Definitive Agreement to Divest Non-Therapeutic Product Line
03 9월 2008 - 11:55PM
Business Wire
North American Scientific, Inc. (Nasdaq: NASM) announced today that
it has entered into a definitive agreement to sell its
Non-Therapeutic Product Line to Eckert & Ziegler Isotope
Products, Inc. The product line includes radiation sources and
standards used in a variety of areas for calibration, measurement,
analysis and control. The transaction is valued at approximately $6
million and is subject to customary conditions with an expected
close by September 5, 2008. "This divestiture allows us the
opportunity to focus solely on growing the therapeutic areas of our
business with our Prospera� and ClearPathTM product lines for local
radiation treatment for the prostate and breast cancer patient,
while also providing the Company with important non-dilutive
capital to invest in ongoing operations," 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."
�Eckert & Ziegler Isotope Products is very excited to be adding
NASM Sealed Source portfolio to our own. NASM has many outstanding
technologies that perfectly complement EZIPs. With the addition of
the Featherlite� to 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. About North American Scientific North American
Scientific, operating under the name NAS Medical, is a leader in
applying radiation therapy in the fight against cancer. Its
innovative products provide physicians with tools for the treatment
of various types of cancers. They include Prospera(r) brachytherapy
seeds and SurTRAK(tm) needles and strands used primarily in the
treatment of prostate cancer. In addition, the Company has been
gaining clinical experience with its first generation ClearPath(tm)
multi-channel catheter breast brachytherapy devices since 2007, and
intends to launch the second generation devices in 2008. They are
the only such devices approved for both high dose and continuous
release, or low dose, radiation treatments. The devices are
designed to provide flexible, precise dose conformance and an
innovative delivery system that is intended to improve the delivery
of brachytherapy for the treatment of breast cancer. Please visit
www.nasmedical.com for more information. Statements included in
this release that are not historical facts may be considered
forward-looking statements that are subject to a variety of risks
and uncertainties. There are a number of important factors that
could cause actual results to differ materially from those
expressed in any forward-looking statements made by the Company
including, but not limited to, the impact of competitive products
and pricing, technological changes, changes in relationships with
strategic partners and dependence upon strategic partners for the
performance of critical activities under collaborative agreements,
the ability of the Company to successfully directly market and sell
its products, uncertainties relating to patent protection and
regulatory approval, the stable supply of appropriate isotopes,
research and development estimates, market opportunities, risks
associated with strategic opportunities or acquisitions the Company
may pursue and the risk factors included in the Company's filings
with the Securities and Exchange Commission. Any forward-looking
statements contained in this news release speak only as of the date
of this release, and the Company undertakes no obligation to revise
or update any forward-looking statements, whether as a result of
new information, future results or otherwise.
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