Siemens acquires CTI Molecular Imaging.
Siemens Medical Solutions USA, Inc. (Malvern, PA) and CTI Molecular Imaging, Inc. (Knoxville, TN) have entered into a merger agreement under which Siemens will acquire all the businesses of CTI Molecular Imaging, including CTI PET Systems, PETNET Solutions, CTI Mirada Solutions, CTI Molecular Technologies, and CTI Concorde Microsystems. Following the merger, CTI Molecular Imaging will become a wholly owned subsidiary of Siemens Medical Solutions."This step is a natural progression in our long-time association with CTI, and reflects Siemens' overall strategy to transform the delivery of healthcare by developing trendsetting innovations that improve patient care while reducing costs," said Erich Reinhardt, PhD, President and CEO, Siemens Medical Solutions.
"Molecular medicine will result in more individualized and more effective diagnosis and therapy," added Michael Reitermann, President of Siemens' Nuclear Medicine Division. "CTI Molecular Imaging has been actively engaged in next-generation molecular diagnostics research and the development of new imaging technologies and biomarkers. This acquisition will enable Siemens to strengthen and broaden our capabilities in molecular imaging, and define new standards within the industry."
"This acquisition represents the combination of two companies that are innovation leaders. It will benefit PET imaging's continued advancement as well as enhance the future of molecular imaging," concluded Ronald Nutt, PhD, President and CEO of CTI Molecular Imaging.
The transaction, which is valued at approximately $1 billion, is subject to customary regulatory approvals and closing conditions, and is expected to close in the second quarter of 2005.
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| Title Annotation: | Ultrasound and molecular imaging news; CTI Molecular Imaging Inc.; Siemens Medical Solutions USA Inc. |
|---|---|
| Author: | Dallessio, Kathleen M. |
| Publication: | Applied Radiology |
| Article Type: | Brief article |
| Date: | Jun 1, 2005 |
| Words: | 240 |
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