Elekta has acquired the Turkish distributor of radiation oncology solutions Mesi Medikal A.S.
Signing and closing of the acquisition took place on July 24, 2014. Mesi Medikal will change its name to Elekta and will be a fully owned company.
The acquisition of Mesi Medikal is expected to add approximately 0.3% to Elekta’s revenues on an annual basis. The transaction is expected to be EPS accretive on an annual basis. There is a three-year earn out component to the agreement between seller and Elekta.
According to Elekta, the acquisition significantly strengthens Elekta’s market position in a country with a shortage of radiotherapy devices and software and a growing incidence of cancer. “With only about two linear accelerators per million people in Turkey, we see strong growth opportunities,” says Niklas Savander, President and CEO of Elekta. “Elekta projects that almost 380 linear accelerators will be required by 2023, compared to today’s 210 units. The best way to capture this growth is to develop the relationship we have had with Mesi Medikal since 1997.”