Elekta to acquire Nucletron, complementing its product offering with world-leading brachytherapy technology
Press Release
Stockholm, Sweden, June 21, 2011
Elekta has agreed to acquire Nucletron for EUR 365 million in cash. The acquisition is expected to be accretive to Elekta’s cash earnings within twelve months. The transaction remains subject to regulatory approval and is expected to close in early autumn 2011.
Through this compelling combination Elekta will offer a complete range of radiotherapy planning and delivery technologies, enhancing its combined ability to meet the clinical needs of cancer patients and health care providers throughout the world.
Elekta today announced the signing of a definitive agreement to acquire Nucletron, the world leader in brachytherapy treatment planning and delivery. Nucletron is the global market leader in brachytherapy with 2010 reported revenues of EUR 128 million and EBITDA of EUR 26 million.
Nucletron will add 1,000 new customers to Elekta’s customer base of more than 5,000. The two companies have highly synergistic product and technology portfolios. The combination will lead to enhanced solutions for customers and patients, and will allow the enlarged group to take mutual advantage of Nucletron’s expertise in brachytherapy combined with Elekta’s global presence, particularly in emerging markets.
Under the terms of the agreement, Elekta will pay cash consideration of EUR 365 million to acquire Nucletron on a cash and debt-free basis. The transaction, which has been approved by the Board of Directors of both companies, is subject to regulatory approval and is expected to close in early autumn 2011.
The acquisition is expected to be accretive to Elekta’s cash earnings within twelve months. The transaction will be financed through existing cash on hand and available credit facilities. The proforma business will continue to have a strong financial profile.
“Elekta and Nucletron have a long history of collaboration. Nucletron has a very talented team and the company has created a truly market leading business. The combination creates an excellent opportunity for our patients, customers, employees and shareholders.” said Elekta President and CEO Tomas Puusepp. “The combination with Nucletron enhances Elekta’s product portfolio, offers significant opportunities and extends our geographic reach and distribution capacity.”
“This integrated product portfolio is particularly important, as the combination of brachytherapy and external beam radiation therapy treatments continues to emerge as a leading course of therapy for cancer worldwide,” he added.
“By joining forces with Elekta, Nucletron becomes part of a world leading provider of therapy for many types of cancers. I believe the combination represents a unique opportunity to realize Nucletron’s true potential, gain critical mass and continue to invest in the development of brachytherapy. We look forward to working with our new colleagues”, said Nucletron CEO Jos Lamers.
BofA Merrill Lynch served as Elekta’s exclusive financial advisor on the transaction, and NautaDutilh served as its legal counsel. Jefferies International served as exclusive financial advisor to Nucletron. Allen & Overy served as Nucletron’s legal counsel.
For questions please contact:
Stina Thorman, Vice President Corporate Communications at +46 8 587 25437.
Elekta hereby invites analysts and media to a web and telephone conference at 10.00 CET, Please register on http://webeventservices.stream57.com/20062011elekta/
It will also be possible to dial in and listen to this event: Password: 898145
Swedish dial-in number: +46 (0)8 505 20 110
Dial-in number the Netherlands: +31 (0)20 7965 008
UK dial-in number: +44 (0)20 7162 0077
US dial-in number: +1 334 323 6201
A replay of the event will be available until June 28, 2011. Please use the same link as above or call the numbers below and give the access code 898145.
Swedish replay number: +46 (0)8 505 203 33
UK replay number: +44 (0) 207 031 4064
US replay number: +1 954 334 0342
The above information is such that Elekta AB (publ) shall make public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 07.00 CET on June 21, 2011.
About Elekta
Elekta is a human care company pioneering significant innovations and clinical solutions for treating cancer and brain disorders. The company develops sophisticated, state-of-the-art tools and treatment planning systems for radiation therapy and radiosurgery, as well as workflow enhancing software systems across the spectrum of cancer care. Stretching the boundaries of science and technology, providing intelligent and resource-efficient solutions that offer confidence to both healthcare providers and patients, Elekta aims to improve, prolong and even save patient lives, making the future possible today.
Today, Elekta solutions in oncology and neurosurgery are used in over 5,000 hospitals globally, and every day more than 100,000 patients receive diagnosis, treatment or follow-up with the help of a solution from the Elekta Group. Elekta reported net sales of SEK 7,904 M and EBITDA of SEK 1,744 M. Elekta employs around 2,800 employees globally. The corporate headquarter is located in Stockholm, Sweden, and the company is listed on the Nordic Exchange under the ticker Elekta. Website: www.elekta.com
About Nucletron
Nucletron provides state of the art radiotherapy solutions for cancer treatment that meet the evolving needs of patients, their caregivers and healthcare professionals around the world. Nucletron has unmatched global leadership in brachytherapy, a very precise, highly effective and well-tolerated treatment option for healthcare providers, tailored to the needs of individual patients. The company works with clinical teams to constantly improve and develop an innovative portfolio of integrated products, software and services that assures excellent patient outcomes.
Headquartered in Veenendaal, The Netherlands, Nucletron employs more than 500 employees, with offices in 18 countries, and products available in more than 100 countries around the world. Website: www.nucletron.com