Croton Healthcare’s subsidiary York Instruments has acquired the Magnetoencephalography (MEG) business from Elekta for an undisclosed amount.
Magnetoencephalography is a diagnostic functional neuroimaging technique for brain activity mapping.
The technology can be applied in clinical settings to find locations of abnormalities as well as in a research setting to simply measure brain activity.
Elekta’s MEG business, known as MEGIN, supplies magnetoencephalography technology and has delivered more than 100 MEG systems across the world.
Elekta portfolio head and chief strategy officer Maurits Wolleswinkel stated that the company has developed the MEG business in the last decade, but has recently decided that it is no longer part of the core treatment solutions and oncology inormatics business.
York Instruments said it is committed to provide support for all MEG customers while further advancing the science and clinical adaption of MEG. Despite, the sale, the company will also continue to be engaged in sales and support in the short run to ensure smooth transition.
York Instruments CEO Gordon Baltzer said: “The combination of Elekta’s experience and York Instruments’ advanced technology provides an exciting new future for MEG. We look forward to serving Elekta’s current customers and expanding the MEG market beyond its current borders.”
Elekta expects that the transaction will be closed during the first quarter of its fiscal year 2018/19. Its MEGIN business had net sales of SEK102m ($11m) in the fiscal year 2017/18.
Elekta global MEG business head Janne Huhtala said: “This move supports not only the important future development of MEG technology, but also the customers of Elekta and York Instruments, as we bring our deep knowledge and years of experience to the company.”
Elekta is a Stockholm, Sweden-based developer of medical equipment and software. The company has a workforce of 3,600 and serves more than 6,000 hospitals around the world.
The company’s treatment solutions and oncology informatics portfolios are designed to enhance the delivery of radiation therapy, radiosurgery and brachytherapy and to reduce cost across clinical workflows.