The MEG technology is designed to map brain activity in clinical and research settings. Elekta’s MEGIN business put up sales of about $11.6 million last year (SEK102 million).
The deal, which is slated to close during Elekta’s first fiscal quarter ending August 30, is not expected to have a material impact during that quarter, the company said.
“The combination of Elekta’s experience and York Instruments’ advanced technology provides an exciting new future for MEG. We look forward to serving Elekta’s current customers and expanding the MEG market beyond its current borders,” York CEO Gordon Baltzer said in prepared remarks.
“Elekta has successfully developed the MEG business over the past decade, but recently took the strategic decision that it is no longer a part of our core treatment solutions and oncology informatics business. Consequently, we have been looking to divest MEGIN and are really pleased to have found a new home for it and its team at York Instruments. York Instruments is committed to continue supporting all MEG customers while further advancing the science and clinical adoption of MEG. Nevertheless, Elekta will continue to be engaged in sales and support in the short term to ensure a smooth transition,” added Elekta chief strategy officer Maurits Wolleswinkel.
($1 = SEK8.81586)