TeraRecon reveals strategic investment in Acrorad
TeraRecon, Inc. has entered the flat-panel detector market after this week's announcement of a strategic investment in Acrorad Co. Ltd., Okinawa, Japan.
TeraRecon has obtained the exclusive right to resell CdTe-based area detector systems from Acrorad, for medical applications, and preferential resale rights for other applications. TeraRecon will also co-operatively develop a turnkey scalable flat-panel detector system for resale to original equipment manufactures, to help develop Acrorad's area detector systems business. TeraRecon will deploy this cost-effective detector system in its own 3D CT scanner, enhancing its own business development in this area.
TeraRecon says it also obtained the exclusive right to re-sell in North America the Mini Gamma Camera, a hand-held gamma camera system used pre-operatively and inter-operatively for localizing sentinel nodes and other applications involving the detection of radio-nuclide tracers. The pair also will collaborate on development of a next-generation hand-held gamma camera.
In addition, TeraRecon management personnel have assumed both board and management positions with Acrorad. TeraRecon chief executive, Motoaki Saito, MD, PhD, has been appointed to the part-time position of chairman of the board of Acrorad, and Kimiaki Saito, MD, PhD has assumed the full-time position of executive vice president and director with Acrorad.
TeraRecon's investment in Acrorad consists of the acquisition of 2,454 shares of previously issued common stock, and the exercise of a warrant for a further 1,400 shares of newly issued common stock. TeraRecon says its total position in the company represents 35.9 percent of the issued equity, purchased for approximately 6.8 million dollars.
TeraRecon has obtained the exclusive right to resell CdTe-based area detector systems from Acrorad, for medical applications, and preferential resale rights for other applications. TeraRecon will also co-operatively develop a turnkey scalable flat-panel detector system for resale to original equipment manufactures, to help develop Acrorad's area detector systems business. TeraRecon will deploy this cost-effective detector system in its own 3D CT scanner, enhancing its own business development in this area.
TeraRecon says it also obtained the exclusive right to re-sell in North America the Mini Gamma Camera, a hand-held gamma camera system used pre-operatively and inter-operatively for localizing sentinel nodes and other applications involving the detection of radio-nuclide tracers. The pair also will collaborate on development of a next-generation hand-held gamma camera.
In addition, TeraRecon management personnel have assumed both board and management positions with Acrorad. TeraRecon chief executive, Motoaki Saito, MD, PhD, has been appointed to the part-time position of chairman of the board of Acrorad, and Kimiaki Saito, MD, PhD has assumed the full-time position of executive vice president and director with Acrorad.
TeraRecon's investment in Acrorad consists of the acquisition of 2,454 shares of previously issued common stock, and the exercise of a warrant for a further 1,400 shares of newly issued common stock. TeraRecon says its total position in the company represents 35.9 percent of the issued equity, purchased for approximately 6.8 million dollars.