Elekta Group, a clinical solutions company for radiation therapy and radiosurgery, has begun negotiations based on a letter of intent to acquire CMS for a total cash consideration representing an enterprise value of $75 million.
The transaction is subject to final transaction documentation, completion of diligence and receipt of relevant regulatory approvals. The negotiations are expected to be finalized by mid-February, and closing is estimated to take place by mid-March, according to the Stockholm, Sweden-based Elekta.
CMS, a St. Louis-based development and sales company of advanced radiation therapy, supports more than 1,500 sites in international clinical operation and has 290 employees.
Andrew C. Cowen, president and CEO of CMS, said, “we are excited about the opportunity of joining the Elekta Group and are fully committed to the timely completion of all necessary steps in the transaction.”