Welcome!

News Feed Item

Advanced Accelerator Applications Enters UK and Irish Nuclear Medicine Markets with the Acquisition of Imaging Equipment Ltd

AAA to acquire 100% of IEL in newly issued AAA shares

SAINT-GENIS-POUILLY, France, March 4, 2014 /PRNewswire/ --



  • The acquisition gives AAA its first direct sales presence in the UK and Ireland, expands its specialist nuclear medicine capabilities and gives it the rights to IEL's licensed SPECT radiopharmaceutical diagnostic product, IELMAG3
  • IEL generated sales of almost £6.77 million for the year ended 31 December 2013, up 58% on 2012
  • The UK's nuclear medicine market is one of the largest in Europe, with annual sales of more than €120 million

Advanced Accelerator Applications ("AAA" or "the Company"), a fast growing international specialist in Molecular Nuclear Medicine (MNM), announced today that it has entered into an agreement to acquire 100% of the shares of Imaging Equipment Ltd ("IEL"), a privately-held UK distributor of nuclear medicine products and technologies, in newly issued AAA shares.

As part of the transaction, IEL's founding shareholders and top management will become shareholders in AAA, which demonstrates the commitment to continuity and the shared common views in terms of development and value creation.

The acquisition gives AAA its first direct presence in the UK and Ireland, expanding its existing services and expertise in nuclear medicine and providing it with an established sales and marketing platform. AAA will also gain the rights in the UK and Ireland to IEL's licensed SPECT radiopharmaceutical diagnostic product, IELMAG3, which is used to image the kidneys and urinary tract. At the end of December 2013, IEL generated sales of £6.77 million, up 58% on the previous year.

Stefano Buono, Chief Executive Officer of AAA, commented: "The acquisition of IEL is in line with our strategy to further expand and strengthen our position in Europe. The UK and Ireland are important markets for both our existing and future products. IEL's specialist expertise and strong presence in these markets is a complementary fit with AAA's business and we look forward to working with their management team to drive the integration and growth in 2014."

Founded in 2001, IEL is a specialist distributor of medical technologies in the UK and Ireland. The company has particular expertise in molecular imaging and nuclear medicine diagnostics for pre-clinical and clinical imaging, and radionuclide therapy. Its customers include a number of key international nuclear medicine companies. In the UK, IEL is the exclusive distributor of AAA's myocardial perfusion PET imaging agent, Cardiogen® and its oncology theragnostic product in development, LuDOTATATE, which has seen real interest in the UK in named patient basis and compassionate use programs, started in April 2013.

Nicholas Stevens, Managing Director of IEL, added: "We are excited to be joining AAA, a prominent and well respected leader in the Molecular Nuclear Medicine market. This partnership will bring considerable benefits to IEL and will significantly strengthen our position in Europe. This all-share agreement demonstrates our confidence in AAA's long term strategy and we are delighted to have the opportunity to be a part of that."  

About Advanced Accelerator Applications

Advanced Accelerator Applications (AAA) is a European pharmaceutical company founded in 2002 to develop innovative diagnostic and therapeutic products. AAA's main focus is in the field of Molecular Imaging and targeted, individualized therapy for the management of patients with serious conditions (Personalized Medicine). AAA currently has 17 production and R&D facilities able to manufacture both diagnostics and therapeutic MNM products, and has over 290 employees in 11 countries (France, Italy, UK, Germany, Switzerland, Spain, Poland, Portugal, Israel, U.S. and Canada). In 2013 AAA is expecting to reach revenues of €56.6 million (+27% vs. 2012) and EBITDA of €14 million (+49% vs. 2012). For more information please visit: http://www.adacap.com

About Imaging Equipment Ltd

Imaging Equipment Ltd (IEL) is a UK and Irish specialist distributor of medical technologies, formed in 2001 and purchased by the present owners in 2003. IEL's strengths and successes have been in Nuclear Medicine Pharmaceutical supplies and Radiotherapy Quality Assurance equipment. IEL has 18 employees and holds two licences from the Medicines and Healthcare products Regulatory Agency (MHRA), a Wholesalers Licence (WL 35903) and a Manufactures Specials Licence (MS 35903). IEL generated sales of almost £6.77 million for the year ended 31 December 2013, up 58% on 2012. For more information please visit:

http://www.imagingequipment.co.uk

SOURCE Advanced Accelerator Applications

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"Qosmos has launched L7Viewer, a network traffic analysis tool, so it analyzes all the traffic between the virtual machine and the data center and the virtual machine and the external world," stated Sebastien Synold, Product Line Manager at Qosmos, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, will share examples from a wide range of industries – includin...
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Get deep visibility into the performance of your databases and expert advice for performance optimization and tuning. You can't get application performance without database performance. Give everyone on the team a comprehensive view of how every aspect of the system affects performance across SQL database operations, host server and OS, virtualization resources and storage I/O. Quickly find bottlenecks and troubleshoot complex problems.
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2017 New York The 7th Internet of @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, New York. Chris Matthieu is the co-founder and CTO of Octoblu, a revolutionary real-time IoT platform recently acquired by Citrix. Octoblu connects things, systems, people and clouds to a global mesh network allowing users to automate and control design flo...
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
With 15% of enterprises adopting a hybrid IT strategy, you need to set a plan to integrate hybrid cloud throughout your infrastructure. In his session at 18th Cloud Expo, Steven Dreher, Director of Solutions Architecture at Green House Data, discussed how to plan for shifting resource requirements, overcome challenges, and implement hybrid IT alongside your existing data center assets. Highlights included anticipating workload, cost and resource calculations, integrating services on both sides...
Unless your company can spend a lot of money on new technology, re-engineering your environment and hiring a comprehensive cybersecurity team, you will most likely move to the cloud or seek external service partnerships. In his session at 18th Cloud Expo, Darren Guccione, CEO of Keeper Security, revealed what you need to know when it comes to encryption in the cloud.
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
"We are the public cloud providers. We are currently providing 50% of the resources they need for doing e-commerce business in China and we are hosting about 60% of mobile gaming in China," explained Yi Zheng, CPO and VP of Engineering at CDS Global Cloud, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...