Devicor Completes Purchase of Division of Neoprobe

Devicor Medical Products Inc. has completed the purcahse of the gamma detection system (GDS) products and related assets from Neoprobe Corporation.

Devicor previously provided distribution and marketing services to Neoprobe for the GDS portfolio. Financial terms of the agreement included $30 million cash at close plus up to an additional $20 million in royalties based on revenue milestones. The sale was approved by Neoprobe’s shareholders on August 15.

“We are excited to complete this agreement with Neoprobe and believe this is a significant step toward our goal of building a market leading medical device business,” said Devicor CEO Tom Daulton. “We look forward to welcoming to Devicor all of the dedicated Neoprobe employees responsible for this growing product portfolio, as we plan to expand the business further through our global direct sales platform and additional R&D investment.”

The acquisition of the Neoprobe GDS line comes approximately a year after Devicor’s acquisition of Ethicon Endo-Surgery’s breast care business from Johnson & Johnson. Devicor markets the breast care products under the Mammotome brand, which sells devices designed to help doctors detect and diagnose breast cancer.

Devicor, the private-equity backed parent corporation of Mammotome, is a fast-growing global company dedicated to acquiring and growing healthcare companies. With an initial focus on the breast cancer market, the company is dedicated to building a global business through the investment in, and development of, tools and technologies that facilitate minimally invasive medical procedures. 

Mammotome, is headquartered in Sharonville, Ohio, has more than 300 employees around the globe.