Analogic sells Cedara shares
Cedara Software Corp. announced that Analogic Corp. sold the 4,580,461 shares it held in Cedara, representing approximately 14.6 percent of the company's outstanding shares.
Analogic gained net proceeds of over $50 million from its investment in Cedara.
In September 2001, Analogic made a $7.5 million investment in Cedara in order to secure access to Cedara's medical imaging software.
Cedara recently inked a long-term deal to allow Analogic and its subsidiaries to use its software, and the two companies' sales organizations pledged to promote each other's products.