BioCentury
ARTICLE | Company News

Ion Beam Applications deal

May 20, 2013 7:00 AM UTC

Ion Beam Applications signed a term sheet with a European private equity firm to sell Ion Beam's Cisbio Bioassays S.A.S. business unit in a deal valued at €25 million ($32.4 million). Ion Beam will keep a minority stake of about 15% in the acquiring company. Following the sale, Ion Beam said it will refocus on its core businesses in radiation therapy and accelerators for radiopharmaceuticals and industrial applications. The deal is expected to close this summer. Ion Beam reported €33.6 million ($44.3 million) in Cisbio revenues last year. ...