Elekta acquires Medical Intelligence

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Elekta today announced the acquisition of Medical Intelligence Medizintechnik GmbH for a consideration of EUR 20 M in cash.
By acquiring Medical Intelligence Medizintechnik GmbH (MI), Elekta reinforces its leadership in stereotactic radiation therapy (SRT) of the body and in providing complete solutions for image guided radiation therapy (IGRT) that address the clinical problems of patient and organ movement.

MI brings to the Elekta Group a portfolio of products with rapid sales growth, a track record of clinically relevant innovation and a development group focused on patient handling and positioning. MI provides radiation oncology and interventional guidance products for patient positioning and treatment. The company's product lines include non-invasive immobilization and positioning systems and also robotic treatment couches.

The acquisition will create opportunities to develop more integrated products that in the future will complete and further differentiate Elekta's IGRT and SRT solutions.

MI was founded 10 years ago by Christian Hieronimi and Michael Vogele, MD, who both will remain with the company after the acquisition. The company, now a 100 percent owned subsidiary of Elekta, has 33 employees and its headquarters in Schwabmünchen, Germany.

Elekta expects the acquisition to add annualized revenues of EUR 10-12 million in the first year and be neutral to slightly accretive to Elekta's earnings per share.