York Instruments Acquires Elekta’s MEG business

York Instruments, a subsidiary of Croton Healthcare, LLC announced today that it has completed the acquisition of Elekta’s Magnetoencephalography (MEG) business.
 
 MEG is a diagnostic functional neuroimaging technique for mapping brain activity. This can be applied in a clinical setting to find locations of abnormalities as well as in a research setting to simply measure brain activity. Elekta’s MEG business, known as MEGIN, is a leading supplier of magnetoencephalography (MEG) technology, with more than 100 delivered MEG systems worldwide.
 
 Elekta’s head of portfolio and chief strategy officer, Maurits Wolleswinkel, commented, “Elekta has successfully developed the MEG business over the past decade, but recently took the strategic decision that it is no longer a part of our core treatment solutions and oncology informatics business. Consequently, we have been looking to divest MEGIN and are really pleased to have found a new home for it and its team at York Instruments. York Instruments is committed to continue supporting all MEG customers while further advancing the science and clinical adoption of MEG. Nevertheless, Elekta will continue to be engaged in sales and support in the short term to ensure a smooth transition.”
 
Janne Huhtala, head of Elekta’s global MEG business, said, “This move supports not only the important future development of MEG technology, but also the customers of Elekta and York Instruments, as we bring our deep knowledge and years of experience to the company.”
 
Gordon Baltzer, CEO of York Instruments, added, “The combination of Elekta’s experience and York Instruments’ advanced technology provides an exciting new future for MEG.  We look forward to serving Elekta’s current customers and expanding the MEG market beyond its current borders.” 
 
The divestment is expected to be closed during the first quarter of Elekta’s fiscal year 2018/19. Elekta’s MEGIN business had net sales of about SEK 102M (Approx. $11M U.S.) in the fiscal year 2017/18. No material affect is expected on Elekta’s operating results of the first quarter of fiscal year 2018/19. Further financial details of the transaction were not disclosed.