Sectra Acquires Medical IT Company

IT and medical technology company Sectra (http://www.sectra.com/) (STO:SECTB) has acquired the Swedish company RxEye AB, which sells cloud-based IT services for efficient and secure remote viewing of medical images. The services are used, for example, by radiology, nuclear medicine and pathology departments, as well as by companies that sell teleradiology services.

Through its RxEye Cloud service, RxEye has built up a network for remote viewing of radiology and pathology images. The company’s customers are located in Europe, and more than 2,000 users in Sweden, Norway and France are connected to the network. The company now has a total of six employees and had sales of approximately SEK 7 million in the 2015 financial year.

"Providing services to the medical care sector via the Internet is a delivery model that we can see is increasing in importance and remote viewing of medical images is a growing area due to efficiency requirements and, in certain cases, staff shortages in the medical care sector,” says Torbjörn Kronander, President and CEO of Sectra. "RxEye is a small company with products that complement our offering of IT services, which can enhance the efficiency of communication and use of resources in medical care.”

"As a result of this transaction and the accompanying access to Sectra’s customer and sales network, the service can continue to be developed and contribute to simplifying the everyday work of radiologists and pathologists,” says Lars Henriksson, Investment manager at Industrifonden, one of the former principal owners of RxEye.

The acquisition is being conducted by Sectra’s Imaging IT Solutions business area, in which the operation will be incorporated. It is being financed using Sectra’s own funds and the transaction comprises a cash consideration and an additional contingent consideration. The business was transferred to Sectra on December 30, 2015. The acquisition has no material impact on the Sectra Group’s sales and operating profit, but will provide a positive tax effect for the Group during the current financial year.

For further information about RxEye, see the website: http://rxeye.com/about/

About the Sectra Group

The Sectra Group’s business operation includes cutting-edge products and services within the niche segments of medical IT and secure communications. Sectra has subsidiaries in 14 countries and operates through partners worldwide. The company was founded in 1978 and has its roots in Linköping University in Sweden. Sales in the 2014/2015 fiscal year totaled SEK 961 million. The Sectra share is quoted on the Nasdaq Stockholm exchange. For more information, visit www.sectra.com

In the medical market, Sectra develops and sells IT systems and services for radiology and other image-intensive departments, orthopaedics and rheumatology. More than 1,700 hospitals, clinics and imaging centers worldwide use the systems daily. This makes Sectra one of the world-leading companies for handling digital radiology images. In Scandinavia, Sectra is the market leader with more than 50% of all film-free installations. Sectra’s systems have been installed in North America, Scandinavia and most major countries in Europe and the Far East.

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