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Cooper/Norland

This article was originally published in The Gray Sheet

Executive Summary

Purchase price of $5 mil. for the bone densitometry business of Norland Medical Systems could reach $12 mil. based on its performance over the next three years, CooperSurgical states Feb. 28. The Norland unit includes the peripheral Discovery system for measurement at the forearm,Apollo DXA dual energy x-ray adsorptiometry system for heel use, and central DXA systems Excell and XR-46 for axial and full body scans. The women's health unit of Cooper Companies has distributed the devices in the U.S. since November 2000; the 2001 sales were about $8.5 mil. Norland now plans to focus on R&D for musculoskeletal diagnostics. The deal, expected to close by May, was announced Feb. 28, the same day Cooper completed its $97 mil. purchase of Biocompatibles' divested eye care business (1"The Gray Sheet" Jan. 21, 2002, p. 13). On Feb. 27, Cooper announced sales for its first fiscal quarter (ended Jan. 31) of $58.1 mil., up 16%. Net income advanced 49% to $9.4 mil...
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