Bracco Diagnostics Acquires E-Z-EM

By HospiMedica staff writers
Posted on 31 Oct 2007
Bracco Diagnostics, a US based subsidiary of Bracco Imaging, S.p.A and part of the Bracco group, announced the acquisition of E-Z-EM, a recognized contrast agent manufacturer for diagnostic imaging of the GI tract.

E-Z-EM and Bracco Diagnostics have a longstanding association: E-Z-EM manufactures an oral imaging product for Bracco, and Bracco, as distributors, represents E-Z-EM in Italy. Bracco Diagnostics is one of the world's leading companies in the imaging agent business, while E-Z-EM is a leading manufacturer of contrast agents for gastrointestinal radiology. In addition, it is worth noting that E-Z-EM was named among the Best Small Companies in America in 2007 by Forbes magazine.

Both companies are well positioned with respected brands in the marketplace and the expected synergies from the merger will certainly enhance their standing. Bracco believes in the strong strategic fit of E-Z-EM to strengthen its core business and to consolidate its presence in the sector. In fact, the merger represent an initiative pursued by the E-Z-EM board of directors as the best alternative to increase shareholder value.

Under the terms of the agreement, Bracco will acquire all outstanding shares of E-Z-EM for US$21 per share for a total consideration of nearly $241 million. Subject to a majority vote by E-Z-EM shareholders and U.S. regulatory approval, the transaction will close sometime early in 2008, with a merger by incorporation of E-Z-EM into Bracco Diagnostics.

E-Z-EM (Lake Success, NY, USA) is a leading manufacturer of contrast agents for radiology and the developer of VoLumen, a next generation low-density barium sulfate suspension for use as an oral contrast in Multidetector CT (MDCT) and Positron Emission Tomography (PET/CT) studies. E-Z-EM is also the worldwide manufacturer and marketer of Reactive Skin Decontamination Lotion (RSDL), a broad-spectrum liquid chemical warfare agent decontaminant.

Bracco Diagnostics, Inc., (Princeton, NJ, USA) one of the world's leading companies in the imaging agent business, is a US subsidiary of Bracco Imaging S.p.A of Milan, Italy, which also markets ethical, and OTC pharmaceutical products and healthcare services in Italy, as well as advanced medical technology systems on a worldwide basis.


Related Links:
E-Z-EM
Bracco Diagnostics

Latest Business News