Hologic to Buy Fischer Technology

DENVER, June 23 -- Fischer Imaging Corp. said today it has agreed to sell the intellectual property associated with its mammography business and products to Hologic Inc. for $32 million cash.

Fischer Imaging makes medical imaging systems for the diagnosis and screening of breast cancer. Hologic, of Bedford, Mass., maks diagnostic imaging and digital imaging systems directed toward women’s health.
The acquisition includes the rights to Fischer's SenoScan digital mammography and MammoTest stereotactic breast biopsy systems; it is expected to close in 90-120 days and is subject to customary conditions and the approval of Fischer’s stockholders.

The agreement allows Fischer to continue to service and support the installed base of SenoScan and MammoTest systems with its existing service organization and to maintain its contractual obligations for providing MammoTest and SenoScan systems to Ethicon Endo-Surgery and Philips Medical Systems, respectively.

"This is a difficult decision, but one that we believe is in the best interests of all Fischer stakeholders," said Harris Ravine, Fischer Imaging’s president and CEO. "We intend to use the proceeds from this transaction to pay outstanding obligations and to continue to rebuild and explore strategic alternatives for our radiology, electrophysiology and surgical business."

For more information, visit: www.fischerimaging.com