LONDON May 23 Britain's BTG said it
would make two acquisitions, one extending its expertise in
liver cancer and the other a treatment for severe blood clots,
to create an interventional medicine business with potential
sales of $1 billion.
The company said on Thursday it had agreed to buy the
targeted therapies division of Nordion Inc, for about
$200 million in a deal that adds Therasphere radioactive glass
beads treatment for liver cancer to its chemotherapy beads unit.
It is also buying EKOS Corp for an initial $180 million, and
up to $40 million in future payments depending on achieving
milestones, to gain an interventional treatment for severe blood
Some of the cost of buying the Nordion unit will come from
the placing of 32.8 million new shares, representing just under
10 percent of BTG's share capital.
Chief Executive Louise Makin said the deals would position
BTG as a leading player in the rapidly growing interventional
"By adding TheraSphere and EkoSonic into our current
portfolio of oncology beads and Varisolve (PEM), our board's
vision is to create an Interventional Medicine business with
potential sales of $1 billion," she said.