MEDIAN Technologies Signs a Strategic Partnership Agreement With Canon Inc. to Develop New Products and Target New Markets
In order to strengthen its long term commitment to the partnership Canon Inc. is acquiring a 15% stake (on a fully diluted basis) in MEDIAN Technologies representing a total investment of 8.6M€. The transaction is done through:
i) The subscription of 223.464 newly issued shares at a price of 8.95€ per share or a total consideration of 2M€,
ii) The acquisition of 738.360 existing shares from the historical investors and the founders, who agreed to sell a small amount of their shares to make this deal possible.The total amount of outstanding shares after this transaction, is 5.812.302.
To further demonstrate its long term commitment, Canon Inc. has agreed to a 12 months lock up on its shareholding and MEDIAN Technologies has offered a seat on its board to Canon. The strategic partnership agreement outlines a collaboration framework that will focus on the following areas:
- Canon Inc. and MEDIAN Technologies intend to develop new products and services in the specific technological domains of Computer-Aided Diagnosis/Detection (CAD). In addition to the enhancement of current products, this partnership aims to bring to market new diagnostic and monitoring solutions in oncology as well as developments in other therapeutic domains such as neurodegenerative and cardiovascular diseases.
Medical imaging « Biomarkers » are the key to cancer detection and treatment
- Canon Inc. and MEDIAN Technologies will work together to make these solutions available through a cloud computing Software as a Services (SAAS) offering to hospitals and the pharmaceutical market.
- MEDIAN Technologies will focus on developing imaging solutions for the pharmaceutical market including companion/monitoring tests for clinical routine. Canon Inc. will explore the development of new solutions, which include MEDIAN’s CAD applications, for the hospital market segment on a global basis. In particular, Canon Inc. aims to establish major clinical partners both in Japan and the U.S. for testing new imaging solutions which will be developed through the partnership.
MEDIAN Technologies CEO Fredrik Brag said: “We are delighted to engage in a long term partnership with Canon with the goal to develop new products in oncology and to expand into new therapeutic areas while being distributed on a global basis. MEDIAN will also benefit from Canon’s expertise and infrastructure to provide cloud computing services. This is a major step for us to further expand our product offering, market reach and our IPO’s commitments”.
Takashi Mori, Chief, Canon Inc. Medical Imaging Project, said: “Canon has identified medical imaging as a key area of focus and we are continuously developing innovative solutions that will have a significant impact on patient care. Our solutions emphasize improvements in the quality, safety and accessibility of patient care. This partnership with MEDIAN Technologies is a prime example of our commitment to helping physicians to perform better based on clinically proven evidence. We are excited about delivering enhanced medical imaging solutions through this strategic partnership to expand horizons for both parties.”
Medical imaging « Biomarkers » are the key to cancer detection and treatment
About MEDIAN Technologies
MEDIAN Technologies was founded in 2002 by Fredrik Brag (the current Chairman and CEO), Gérard Milhiet and Arnaud Butzbach. It is based at Sophia Antipolis (in the south of France) and has a subsidiary in the USA. The company currently has a staff of 40, over half of whom work in R&D. MEDIAN Technologies offers solutions and services for diagnosing and monitoring cancer patients. It is targeting both the oncology clinical trials market (its prime market) and the patient care market. MEDIAN Technologies collaborates with institutes at the cutting edge of medical imaging, including the French National Institute for Computer Science and Control (INRIA), Chicago University and the Swiss Federal Institute of Technology in Lausanne, Switzerland (EPFL). MEDIAN Technologies has been present in the market since 2007 through direct sales of its lesion management solutions and alliances with specialist cancer centers in Europe and the USA. For more information about MEDIAN, visit www.mediantechnologies.com.
About Canon Inc.
Canon Inc. (NYSE: CAJ), headquartered in Tokyo, Japan, is a leader in the fields of professional and consumer imaging equipment and information systems. Canon’s extensive range of products includes copying machines, inkjet and laser printers, cameras, video equipment, medical equipment and semiconductor-manufacturing equipment. Originally established in 1937 as Precision Optical Industry, Co., Ltd., a camera manufacturer, Canon has successfully diversified and globalized to become a worldwide industry leader in professional and consumer imaging systems and solutions. With over 195,000 employees worldwide, Canon has manufacturing and marketing subsidiaries in Japan, the Americas, Europe, Asia and Oceania; and a global R&D network with companies based in the United States, Europe, Asia and Australia. Canon’s consolidated net sales for fiscal 2010 (ended December 31, 2010) totalled US$45.8 billion (at an exchange rate of ¥81 = US$1). Visit the Canon Inc. website at: www.canon.com/index.html
Press contacts
MEDIAN Technologies
Fredrik Brag, CEO
+33 492 906 582
fredrik.brag@mediantechnologies.com
ALIZE RP
Caroline Carmagnol
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caroline@alizerp.com
Anne-Sophie Cosquéric
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