SK Capital, IBA To Form $229M Medical Imaging Venture
By Eric Hornbeck (January 9, 2012, 12:04 PM EST) -- Private equity firm SK Capital Partners has landed a €180 million ($229 million) deal to create a medical imaging joint venture with Belgian medical technology company Ion Beam Applications SA's radiopharmaceutical division, the parties said Monday.
The new venture, IBA Molecular Imaging, will be 60 percent held by SK Capital and 40 percent held by IBA. The transaction's enterprise value is $229 million on a debt- and excess cash-free basis, and the deal is expected to close in the second quarter of 2012 pending regulatory approval, the companies said.
"We believe we can build upon a solid business foundation by leveraging...
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