Theragenics acquires Galt Medical for $31.9 million

By Lisa Kerner

Charlotte, N.C., Aug. 3 - Theragenics Corp. said it paid $31.9 million to acquire Galt Medical Corp., a privately held Texas-based company that develops, manufactures and markets disposable medical devices, such as guidewires and introducer kits, used in the interventional radiology and cardiology markets.

The purchase price consisted of $28.8 million in cash and the issuance of 978,000 common shares valued at $3.1 million.

Theragenics said the remaining $7.5 million of the purchase price was financed with borrowings on its existing $40.0 million credit facility.

"With our acquisition of CP Medical we found synergies with our brachytherapy business as well as opportunities to move into new directions within the medical device field," chief executive officer and president M. Christine Jacobs said in a company news release.

"Galt now represents another significant step in our diversification strategy."

Theragenics is a Buford, Ga., medical device company serving the cancer treatment and surgical markets.

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