I guess I am talking to myself here on this thread! I came accross the follwing and itseems like a good move in the long run. I believe it should help margins. How ever the purchase price is not given and I do not like secrets, normally you hide something that you are not very proud of. But I am happy to see the VHA deal before this announcement.
Syncor signs letter of intent with Golden Pharmaceuticals Inc.; Syncor to purchase iodine business
Monday, February 03, 1997 12:53 PM
CHATSWORTH, Calif.--(BW HealthWire)--Feb. 3, 1997--Syncor International Corp. (NASDAQ:SCOR) Monday announced it has signed a letter of intent, subject to a definitive agreement, with Golden Pharmaceuticals Inc. (OTC:GPHI), to purchase all of its assets related to its Iodine 123 business.
Iodine 123 is a diagnostic product used to diagnose thyroid disorders and is distributed nationally by Syncor International.
Included in the potential sale is the New Drug Application for Iodine 123 capsules, the building that contains the manufacturing facility for the Iodine 123 capsules and all the equipment related to the iodine business. Currently, almost all of Golden's production of Iodine 123 capsules is sold to Syncor.
"Iodine 123 capsules are an important nuclear medicine product," said Robert Funari, Syncor's president and chief executive officer. "The acquisition of this business from Golden strengthens Syncor's ability to provide reliable distribution and quality service to our customers and their patients."
Golden Pharmaceuticals, based in Golden, Colo., is primarily engaged in the repackaging and distribution of a broad range of pharmaceutical products.
Syncor International operates an expanding network of 121 domestic and nine international nuclear pharmacy service centers. The company compounds and dispenses patient specific unit dose radiopharmaceutical prescriptions, as well as distributing bulk radiopharmaceutical products, for use in diagnostic imaging and provides a complete range of advanced pharmacy services.
Syncor services more than 7,000 customers and is the only national pharmacy network of its kind that provides a combination of diagnostic and information services to hospitals and alternate site markets. -0-
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