Misonix is selling Sonora Medical Systems to Medical Imaging Holdings for $8 million.
The New York City-based Misonix, which develops minimally invasive and therapeutic ultrasonic medical devices, said it has completed more than $15 million in non-strategic business transactions over the past six months.
Michael A. McManus, Jr., president and CEO of Misonix, said the sale of Sonora would provide the additional capital necessary to accelerate the company’s growth through the expansion of therapeutic medical device businesses. The funds will also be used for Misonix’s potential purchases of future products, as well as the licensing of new technology.
Last week, Medical Imaging Holdings also acquired Barrington Medical Imaging and Echoserve for an undisclosed sum.