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Medical Specialist Sold
Medical device group Misonix, Inc. has sold all of the assets of its subsidiary Acoustic Marketing Research, Inc., DBA Sonora Medical Systems, to private holding company Medical Imaging Holdings, Inc., for $8 million in cash.
The buyer is a private holding company formed by healthcare private equity firm Galen Partners. Headquartered in Golden, Colorado, Galen aims to buy and consolidate technology-enabled companies and assets in the medical imaging market to provide clients with comprehensive imaging solutions. Two weeks ago, Galen acquired two other businesses in the sector, Barrington Medical Imaging, LLC and Echoserve, Inc.
Misonix, whose technology is used in Europe for the ablation of tumors and worldwide for other acute health conditions, has been selling non-core businesses in the past 6 months and the latest deal brings the total raised to more than $15 million. Preident and CEO Michael A. McManus, Jr. says the funds 'will provide the additional capital necessary to be used to accelerate the growth of our expanding therapeutic medical device business.'
Web sites: www.misonix.com and www.galen.com .
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