Pharmaceutical Firm Sells Dosimetry Division
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By HospiMedica staff writers Posted on 17 Oct 2003 |
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As part of a move to divest its noncore businesses, ICN Pharmaceuticals, Inc. (Costa Mesa, CA, USA) has sold its Worldwide Dosimetry Services division to a new company called Global Dosimetry Solutions, Inc. (Bethesda, MD, USA) for US$58 million in cash.
The dosimetry division supplies analytical monitoring services to detect personal occupational exposure to radiation. A wide range of clients utilize the service, including dentists, veterinarians, chiropractors, podiatrists, hospitals, universities, government institutions, nuclear power plants, and small office practitioners. The service includes the manufacturing and distribution of badges, analysis of badges, and a radiation report that analyzes the exposure level.
Earlier this year, ICN sold several other noncore businesses as part of its divestiture program, including the company's manufacturing and retail pharmacy operations in Russia, its research products and diagnostics division of ICN Biomedicals, and the company's photonics business.
"The sale of our dosimetry division represents yet another significant accomplishment for ICN, and provides the company with a substantial addition to cash reserves. We are nearing the end of a highly successful divestiture program with only our much smaller operations in Hungary and the Czech Republic remaining to be sold,” said Robert W. O'Leary, chairman and CEO of ICN.
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ICN
The dosimetry division supplies analytical monitoring services to detect personal occupational exposure to radiation. A wide range of clients utilize the service, including dentists, veterinarians, chiropractors, podiatrists, hospitals, universities, government institutions, nuclear power plants, and small office practitioners. The service includes the manufacturing and distribution of badges, analysis of badges, and a radiation report that analyzes the exposure level.
Earlier this year, ICN sold several other noncore businesses as part of its divestiture program, including the company's manufacturing and retail pharmacy operations in Russia, its research products and diagnostics division of ICN Biomedicals, and the company's photonics business.
"The sale of our dosimetry division represents yet another significant accomplishment for ICN, and provides the company with a substantial addition to cash reserves. We are nearing the end of a highly successful divestiture program with only our much smaller operations in Hungary and the Czech Republic remaining to be sold,” said Robert W. O'Leary, chairman and CEO of ICN.
Related Links:
ICN
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