Theragenics Corporation(R) (NYSE: TGX), the Georgia-based manufacturer and marketer of TheraSeed(R), the premier palladium-103 cancer treatment device, today announced the acquisition of CP Medical, a medical device company, for approximately $19,150,000 in cash and 1,885,370 shares of Theragenics'(TM) common stock valued at approximately $6,250,000, for a total purchase price of approximately $25,400,000. The $6,250,000 in Theragenics'(TM) stock was calculated over a 20-day period from March 28, 2005 through April 22, 2005.
With 2004 revenues of approximately $9.6 million and net income before income taxes of approximately $1.7 million, Theragenics(TM) expects this acquisition to be accretive to net income in 2005. CP Medical has no significant debt on its books.
Theragenics Corporation(R) is committed to being a leading provider of brachytherapy treatment devices for prostate cancer and other degenerative disease states. The Company is the manufacturer and marketer of the palladium-103 device TheraSeed(R) and I-Seed, an iodine-125 based device. Both devices are used in the treatment of localized prostate cancer in one-time, minimally invasive procedures. Theragenics(TM) is the world’s largest producer of palladium-103 and is involved in research and development utilizing palladium-103 and other isotopes for the treatment of a wide variety of diseases, including macular degeneration.
About CP Medical
CP Medical, headquartered in Portland, Oregon, is a manufacturer and supplier of innovative sutures, cardiac pacing cables, brachytherapy needles/sleeves/spacers, and other related medical products sold in the professional surgical and veterinary fields. CP Medical is FDA registered and 13485 certified.