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Biotech / Medical : Guided Therapeutics - GTHP -- Ignore unavailable to you. Want to Upgrade?

To: A.J. Mullen who wrote (39)	3/7/2003 12:22:46 PM
From: A.J. Mullen	Read Replies (1) \| Respond to of 118

SpectRx Sells BiliChek Analyzer Line to Respironics Friday, March 7, 2003 07:59 AM ET Printer-friendly version NORCROSS, Ga. (Dow Jones)--SpectRx Inc. (SPRX, news) sold its BiliChek non-invasive bilirubin infant jaundice analyzer product line and related assets to Respironics Inc. (RESP, news) . In a press release Friday, medical technology company SpectRx said the base cash purchase price is $4 million with an additional $1 million to be paid based upon completion of product development work already underway. SpectRx could also receive up to an additional $6.25 million to be paid in royalties and earn-out payments over the next five years, based upon the achievement of certain operating results. Respironics had previously been the exclusive U.S. licensee and distributor of the product line. By analyzing light reflected from a baby's forehead, the BiliChek noninvasively predicts the level of bilirubin, the cause of infant jaundice. SpectRx said it planned to sell the BiliChek business in October to allow it to focus on expanding its diabetes anc cancer detection businesses. It will use proceeds from the sale to fund the expansion of its growing SimpleChoice diabetes product line and the development of a continuous glucose monitor. Respironics doesn't expect the transaction to meaningfully impact its revenue or earnings in fiscal 2003. For the six months ended Dec. 31, Respironics earned 72 cents a share, excluding charges, on sales of $290.5 million. For the nine months ended Sept. 30, SpectRx posted a loss of $6.6 million, or 61 cents a share, on revenue of $3 million. -Jenny Park; Dow Jones Newswires; 201-938-5400 Dow Jones Newswires 03-07-03 0759ET