Theragenics buys CP Medical in $25.4M deal

Theragenics Corp, a Georgia, USA-based manufacturer and marketer of TheraSeed, a palladium-103 cancer treatment device, has announced the acquisition of CP Medical, a medical device company, for about $19.15 million in cash and 1,885,370 shares of Theragenics' common stock valued at around $6.25 million for a total purchase price of approximately $25.4 million.

With 2004 revenues of about $9.6 million and net income before income taxes of some $1.7 million, Theragenics expects this acquisition to be accretive to net income in 2005. CP Medical has no significant debt on its books.