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TheraGenetics Acquires Core Oncology's Prostate Brachytherapy Customer Base



2/21/2012 8:44:01 AM

BUFORD, Ga.--(BUSINESS WIRE)--Theragenics Corporation® (NYSE: TGX), a medical device company serving the surgical products and prostate cancer treatment markets, today announced that it has purchased Core Oncology’s prostate brachytherapy customer base. The asset acquisition was effective on February 17, 2012. The total purchase price is structured as an “earn-out” equal to one times the actual revenue generated from the acquired customers over the twelve month period beginning September 2012 and ending August 2013 in excess of a $2.5 million threshold amount. Theragenics paid $3.8 million in cash at closing as prepayment of a portion of the earn-out, and will make quarterly earn-out payments thereafter. The Company expects to fund the quarterly earn-out payments from operating cash flow and existing cash balances.

Read at BioSpace.com


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