Richardson Electronics Sells Majority of Healthcare Assets to DirectMed Imaging
Deal News | Jan 24, 2025 | Globenewswire
Richardson Electronics, a global provider of power management solutions, has announced a strategic transaction involving the sale of the majority of its healthcare segment assets to DirectMed Imaging. The transaction saw Richardson Electronics not only selling a substantial portion of its healthcare division but also entering a 10-year supply agreement with DirectMed. Under this agreement, Richardson will supply repaired Siemens CT X-ray tubes and continue manufacturing ALTA CT X-ray tubes for a limited term. The remaining healthcare assets will be merged into Richardson Electronics' PMT business unit. The company views this transaction as an alignment with its strategic goals, focusing more on its Green Energy Solutions business, which promises higher growth. The financial benefits from this transaction are expected to streamline Richardson's operations and enhance its profitability profile.
Sectors
- Healthcare Equipment & Services
- Renewable Energy
- Industrial Goods
Geography
- United States – Richardson Electronics is based in LaFox, Illinois, and DirectMed Imaging operates globally with significant operations in the U.S.
- Denmark – DirectMed Imaging owns LBN Medical ApS, a company based in Aalborg, Denmark, adding a European dimension to its operations.
Industry
- Healthcare Equipment & Services – The article involves the sale of assets related to healthcare, particularly diagnostic imaging parts and services.
- Renewable Energy – Richardson Electronics is refocusing its business strategy to align with its Green Energy Solutions, which are part of the renewable energy sector.
- Industrial Goods – Richardson Electronics also operates in the broader industrial goods sector, providing power management and engineered solutions.
Financials
- N/A – The exact financial terms of the asset sale were not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Richardson Electronics, Ltd. | Selling Company | Company | A global manufacturer and provider of engineered solutions, including healthcare equipment and power management. |
| DirectMed Imaging | Bidding Company | Company | A leading provider of aftermarket diagnostic imaging parts and services, including ownership of LBN Medical ApS and ScanMed, LLC. |
| Edward J. Richardson | Chairman, CEO, and President | Person | Executive leader of Richardson Electronics, providing strategic direction in the asset sale and realignment. |