VIDAR Systems Corporation, a leader in medical imaging technology, today announced that it will be acquired by 3D Systems Corporation (NYSE: DDD). The news is part of a wider announcement in which the Contex Group, a subsidiary of Ratos AB, signed an agreement to sell its subsidiaries VIDAR Systems Corporation and Z Corporation to 3D Systems for USD 137m in cash. The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close promptly after those approvals are obtained. It is hoped that the closing can occur by the end of 2011 or early in 2012.
"By joining 3D Systems, we expect to continue to deliver high quality medical imaging products and expand our core imaging business using 3D's medical technologies," said VIDAR Systems' Global President, Joseph LaPorta. "Our vision has always been to expand our core technology into areas that were not previously accessible to VIDAR. Together with 3D's strong footprint into healthcare — medical models, surgical guides, hearing aides, dental applications and implantable devices — VIDAR expects to develop applications and products that enhance our current offering as well as to move into more elaborate healthcare initiatives."
"We believe that the strong strategic fit between our businesses, combined with expanded capabilities in product development, channel coverage, manufacturing and marketing, could present sizeable cost and revenue synergies that together offer significant long-term customer benefits and shareholder value," commented Abe Reichental, President and CEO of 3D Systems.
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