Agfa HealthCare to Acquire European Contrast Media Company

Agfa Healthcare (Mortsel, Begium) is expanding their radiology systems offering with a new range of pharmaceuticals for diagnostic imaging.

Agfa HealthCare, a leading provider of diagnostic imaging and healthcare information technology (IT) solutions, reported that it has signed an agreement with Curagita Holding, AG (Heidelberg, Germany) to acquire all the shares of its subsidiary Insight Agents, GmbH (Heidelberg, Germany). Insight Agents is a European developer and producer of contrast media, with business activities primarily in Germany. The final acquisition price is expected to be approximately EUR 10 million.

Contrast media are chiefly used during medical imaging examinations with X-rays, computed tomography (CT) scans, and magnetic resonance imaging (MRI), either to highlight specific anatomic structures (mostly vessels) or to perform functional imaging. Contrast media is now a multi-billion Euro market served by both large and small companies.

"The purchase of Insight Agents is an important strategic step towards future growth opportunities,” stated Christian Reinaudo, president of Agfa HealthCare. "Agfa HealthCare is a strong player in the radiology market with both Imaging and IT solutions. Today, we further enhance our diagnostic imaging business with a set of products that are increasingly used for diagnostic imaging procedures. These products are a logical addition to our portfolio of film, chemicals, and printers and will be distributed through our extensive logistics and distribution network.”

"The acquisition of Insight Agents allows us to offer to our customers a broader range of products for medical imaging,” stated Dirk Debusscher, vice president imaging at Agfa HealthCare. "Agfa HealthCare has always been a leader with its film and print solutions. The decision to purchase a new line of business was made to ensure that we continue to offer a range of diagnostic imaging products over which we have full control, enabling us to deliver the highest quality radiology solutions, on time, all of the time.”

"The comprehensive portfolio of Insight Agents fits well with the distribution and logistics expertise of Agfa HealthCare," stated Dr. Johannes Schmidt-Tophoff, CEO of Curagita Holding AG. "We are convinced that Agfa HealthCare is the perfect company to bring our expanding spectrum of contrast agents to more customers world-wide, and we are working diligently to close the transaction by the end of 2009.”

Curagita Holding is the leading independent radiology services company in Germany, managing a cooperative radiology group of 300 radiologists. The objectives of the cooperative are to save costs, to implement quality combines, and to use marketing and contracting synergies as a powerful group generating value added for referring doctors, patients, and insurances. By group purchasing of contrast agents, consumables and equipment/IT, including maintenance contracts, the costs of participating radiologists as well as of health insurances are significantly reduced.

Insight Agents develops, produces, and markets contrast media. The company headquarters is located in Germany, which is the biggest national contrast media market in Europe. Further branches of the company, which are headed by experienced industrial managers, are located in Belgium, France, UK, Italy, Austria, Switzerland, Spain, Mexico, and other countries. Insight Agents plans to extend its product range to include a full and globally marketable range of generic contrast media.

Agfa HealthCare, a member of the Agfa-Gevaert Group, is a provider of IT-enabled clinical workflow and diagnostic image management solutions, and systems for capturing and processing images in hospitals and healthcare facilities. The healthcare division has sales offices and agents in over 100 markets worldwide.

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