C-RAD AB: Acquisition of Cyrpa Medical Security
Press release 2013-02-26
C-RAD is acquiring the Belgian company Cyrpa
C-RAD AB with its three fully owned subsidiaries in Sweden and three international sales companies are all active in the field of radiation therapy. C-RAD is acquiring 29 % of the laser company Cyrpa Medical Security and has an option to acquire the remaining 71 %.
The objective of Cyrpa is through innovation to develop the radiation therapy market. Cyrpa offers a complete program of advanced laser systems to be used in radiation therapy clinics for use in virtual simulation and when positioning the patients in the linac room. The solutions are time saving and offer the highest accuracy and safety available on the market. The Cyrpa technology is patent protected. The systems are motorized and equipped with double laser systems, green and red. Calibration with the Cyrpa Smart Phantom takes just a few minutes, whereas calibration of competitive systems takes hours of manual work.
Beginning in March the integration of Cyrpa and C-RAD activities will start. All production of the laser systems will be moved to C-RAD in Uppsala. During the coming months a joint product program will be developed. The market and sales activities of the two companies will be integrated. The Cyrpa organization will be responsible for the entire program on specific markets. The C-RAD direct sales force and some of its distributors will be responsible for sales of the total program in designated markets. Investments in both R&D and sales will be required.
At closing not later than 6 March 2013, C-RAD will for 29% of the shares of Cyrpa pay an amount of 1,073 MEuro. After transfer of production a loan of 0, 5 MEuro will be issued. C-RAD has an option to acquire the remaining 71% of the shares based on a specified formula. The transaction is expected to have a positive impact on C-RAD´s operating profit in 2013.
Cyrpa International is located in Brussels Belgium. The fully owned subsidiary Cyrpa Innovation is located in Paris, France. A joint venture, Cyrpa Americas has been formed in cooperation with the US companies Radiation Oncology Systems and Acceletronics.
For more information about the C-RAD and Cyrpa integration please go to www.c-rad.com.
A video will be available not later than 8 March 2013.
Erik Hedlund, CEO of C-RAD AB:
“We are proud to announce the agreement with the shareholders of Cyrpa. During negotiations detailed plans for further activities have been agreed. Through the merger with Cyrpa Medical Security and integration of manufacturing, product program and sales, the group will, as the only vendor in radiation therapy, be able to offer a complete program of optical systems and innovative solutions of optical solutions for the CT- and linac- room.
The integration of the two companies will improve capacity and competitiveness. The broader program will improve profitability in sales. “
Thierry Laulom, President of Do Group Invest and majority shareholder of Cyrpa and Dominique Nadal, President of Cyrpa:
“We are proud to announce the new-signed agreement between Cyrpa and C-RAD. C-RAD is a renowned company for high technology, innovative products in the field of radiotherapy, but also for its ability to expand to foreign markets, therefore it is in perfect adequacy with Cyrpa’s activities.
This association will not only allow both partners to enter several new markets; it will also permit to offer to hospitals and clinics new high-end products that do not exist yet on the radiotherapy market.
We are very confident that this cooperation will bring out the best in Cyrpa and C-RAD on technical and commercial aspects and will propel the newly formed business to a position of leader."
About Cyrpa:
Cyrpa, established in 2010 in Belgium, is a company specialized in innovative solutions in the radiotherapy field. Founded by technical experts and an innovation investment fund, Cyrpa products are currently distributed in 22 countries on mainland Europe but also in the USA, Latin America, Africa and Asia.
In 2011 Cyrpa launched its « HIT » product range (High Impact Technology): laser systems used for patient-positioning during virtual simulation and radiotherapy treatment. The HIT systems include two major innovations: double-diode for each laser line, and the SmartPhantom, a device that allows high precision automatic calibration of the laser system in the CT room. Cyrpa is the only positioning laser manufacturer that guarantees an accuracy of 0,1mm.
Cyrpa’s R&D team, constantly meeting customer needs, has developed new products that are commercialized in 2013: the HITSD (HIT Single Diode) is a laser system with fully manual calibration, and the SMARTPHANTOMRT (SmartPhantom for RadioTherapy) a device for automatic calibration in the treatment room.
Cyrpa’s aim is to offer quality solutions in radiotherapy that provide higher precision for the patient and more safety for the medical staff.
For more information about CyrpaA and DO Group Invest please visit www.Cyrpa.com/en and www.do-groupinvest.com/en.
For further information:
Erik Hedlund, CEO C-RAD AB, Phone +46-(0)18-66 69 31, E-Mail erik.hedlund@c-rad.se
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