"At CMS, we are excited about the opportunity of joining the Elekta Group and are fully committed to the timely completion of all necessary steps in the transaction. Combined, Elekta and CMS will strengthen its market position and the transformation of CMS into a center of excellence in treatment planning technology will be of great value for the combined organization and our customers," comments Andrew C. Cowen, President and CEO of CMS.
Financial effects of the transaction
CMS is based in St Louis, Missouri and is owned by a private equity fund, managed by the US investment bank Brown Brothers Harriman. The company has 290 employees worldwide. In fiscal year 2007 (ending September), the company grew its order intake by 21 percent to USD 61 M.
Management expects a successful completion of the acquisition process
to result in:
-- Accretion to earnings on a cash basis already from fiscal year 2008/09
-- Mildly dilution to reported earnings in fiscal year 2008/09 as a
result of expected amortization of intangibles associated with the
acquisition and 'fair value' adjustments of certain balance sheet
items under IFRS accounting standards
-- Accelerated revenue growth, but with modest group effect given the
size of the acquired business
-- Preserved balance sheet strength and financial flexibility
CMS is a worldwide leader in the development and support of radiation
treatment planning and workflow management solutions. With treatment
planning systems installed in more than 1,500 sites worldwide, CMS is a
global resource to the radiation
|SOURCE Elekta, Inc.|
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