Louvain-la-Neuve, Belgium, 17 December 2019 - IBA (Ion Beam Applications S.A., EURONEXT), the world’s leading provider of solutions for the diagnosis and treatment of cancer, today announces that it has sold RadioMed Corporation (“RadioMed”), IBA’s VISICOIL™ fiducial markers business, to IZI Medical Products LLC, a leading interventional medical device company in a deal that is worth between USD 14 and 16 million to IBA. This concludes the strategic exercise with the decision to retain the remainder of the Dosimetry division within IBA Group.
IBA Dosimetry has continued to perform strongly in the second half of 2019. With the continued growth of the radiotherapy and proton therapy markets, which require strong dosimetry capabilities, the Board has concluded that the retention of the remaining component of the Dosimetry division provides the most compelling strategic rationale for the Company and its stakeholders. The remainder of the business will therefore be re-consolidated into the Group’s financial statements and will no longer be accounted for as an asset held for sale.
RadioMed was acquired by IBA in 2003 and is part of its Dosimetry division. VISICOIL™ is an implantable fiducial marker used for soft tissue tumor localization for enhanced accuracy in radiation therapy planning and delivery. IZI is a leading developer, manufacturer, and provider of high-quality medical consumable devices used in interventional radiology and oncology, radiation therapy, neuro-spine, and image guided surgery procedures.
Olivier Legrain, Chief Executive Officer of IBA, commented: “The sale of RadioMed and the retention of IBA Dosimetry are consistent with our aim to focus on our core business and drive growth. IZI Medical Products’ leading expertise in interventional radiology and oncology makes it the perfect company to drive further market penetration and development of VISICOIL™, the reliable and high-quality solution for tumor identification. Furthermore, the sale strengthens our balance sheet, enabling us to further capitalize on our growth prospects, invest in R&D and build on our market leading position across the globe.”