IBA sells RadioMed, part of IBA Dosimetry, to IZI Medical Products
Remainder of Dosimetry division retained, strategic review concluded
Louvain-la-Neuve, Belgium, 17 December 2019 - IBA (Ion Beam Applications S.A., EURONEXT), the world’s leading provider of solutions for the diagnosis and treatment of cancer, today announces that it has sold RadioMed Corporation (“RadioMed”), IBA’s VISICOIL™ fiducial markers business, to IZI Medical Products LLC, a leading interventional medical device company in a deal that is worth between USD 14 and 16 million to IBA. This concludes the strategic exercise with the decision to retain the remainder of the Dosimetry division within IBA Group.
IBA Dosimetry has continued to perform strongly in the second half of 2019. With the continued growth of the radiotherapy and proton therapy markets, which require strong dosimetry capabilities, the Board has concluded that the retention of the remaining component of the Dosimetry division provides the most compelling strategic rationale for the Company and its stakeholders. The remainder of the business will therefore be re-consolidated into the Group’s financial statements and will no longer be accounted for as an asset held for sale.
RadioMed was acquired by IBA in 2003 and is part of its Dosimetry division. VISICOIL™ is an implantable fiducial marker used for soft tissue tumor localization for enhanced accuracy in radiation therapy planning and delivery. IZI is a leading developer, manufacturer, and provider of high-quality medical consumable devices used in interventional radiology and oncology, radiation therapy, neuro-spine, and image guided surgery procedures.
Olivier Legrain, Chief Executive Officer of IBA, commented: “The sale of RadioMed and the retention of IBA Dosimetry are consistent with our aim to focus on our core business and drive growth. IZI Medical Products’ leading expertise in interventional radiology and oncology makes it the perfect company to drive further market penetration and development of VISICOIL™, the reliable and high-quality solution for tumor identification. Furthermore, the sale strengthens our balance sheet, enabling us to further capitalize on our growth prospects, invest in R&D and build on our market leading position across the globe.”
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About IBA
IBA (Ion Beam Applications S.A.) is a global medical technology company focused on bringing integrated and innovative solutions for the diagnosis and treatment of cancer. The company is the worldwide technology leader in the field of proton therapy, considered to be the most advanced form of radiation therapy available today. IBA’s proton therapy solutions are flexible and adaptable, allowing customers to choose from universal full-scale proton therapy centers as well as compact, single room solutions. In addition, IBA also has a radiation dosimetry business and develops particle accelerators for the medical world and industry. Headquartered in Belgium and employing about 1,400 people worldwide, IBA has installed systems across the world.
IBA is listed on the pan-European stock exchange NYSE EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB).
More information can be found at www.iba-worldwide.com
About VISICOIL™
VISICOIL has been manufactured by RadioMed Corporation since 1997. VISICOIL is a patented (US Patent 8,027,712) helically wound gold coil available in various diameters and lengths to aid in the treatment of various organs with a range of radiation therapy techniques. More information can be found at www.VISICOIL.com
About IZI Medical Products
IZI Medical provides the continuity that its healthcare partners need to succeed. Based in Owings Mills, Maryland, just outside Baltimore, IZI is a leading developer, manufacturer, and provider of high-quality medical consumable devices used in interventional radiology and oncology, radiation therapy, neuro-spine, and image guided surgery procedures. IZI has built a diverse portfolio of products backed by strong intellectual property and currently sells to more than 1,000 domestic customers as well as internationally across 25 countries. More information can be found at https://izimed.com/
For further information, please contact:
IBA
Soumya Chandramouli
Chief Financial Officer
+32 10 475 890
Investorrelations@iba-group.com
Thomas Ralet
Vice-President Corporate Communication
+32 10 475 890
communication@iba-group.com
For media and investor enquiries:
Consilium Strategic Communications
Amber Fennell, Angela Gray, Lucy Featherstone, Lizzie Seeley
+44 (0) 20 3709 5700
IBA@consilium-comms.com
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