RSNA 2015: Guerbet Announces Mallinckrodt Contrast Media and Delivery Systems Acquisition Complete
Guerbet announced that all necessary regulatory and customary closing conditions have been met to finalize the acquisition of the Mallinckrodt Contrast Media and Delivery Systems (CMDS) Business. With the acquisition, Guerbet is now well-poised to become a global leader specializing in contrast media and imaging solutions and services.
According to Guerbet CEO Yves L'Epine, "With this transaction, which is essential to our strategy of expansion, we see birth of a leader in medical imaging. Guerbet will be strengthened both in terms of its geographical positions and its portfolio with flagship products in each of its segments. We are happy to be able to count on the highly motivated CMDS teams who are keen to join forces and create, with the teams already in place, the market's first "pure player".
Guerbet acquired 100% of the Mallinckrodt CMDS business for $270M total, paid in cash and financed by a loan syndicated by BNP Paribas. As a result of this acquisition, Guerbet anticipates that this acquisition will bring technological synergies, with CMDS providing syringe based delivery systems and Guerbet the innovative hydraulic injection technique for soft bags. In terms of contrast agents, it also provides a strong position in X-ray imaging with the Optiray and Optijet products in Europe and the Ultraject in the US, while Guerbet has historically held a strong position in MR imaging with Dotarem. Further, as a result of the acquisition Guerbet anticipates additional synergies across geographies, with CMDS having a strong foothold in the US to complement Guerbet’s in Europe. According to a company announcement, the acquisition will allow Guerbet to ramp up the commercial success of Dotarem in the United States and consider a much faster global launch for the Group's new products. In addition, Guerbet will strengthen its presence on markets with high growth potential, particularly in China, Russia, and Turkey.