AstraZeneca completes sale of Aptium Oncology assets

Anglo-Swedish drug major AstraZeneca (LSE: AZN) says that it has completed the previously indicated sale of the assets of its subsidiary, Aptium Oncology. The company first revealed that it planned to divest these assets, as well as its dental and medical devices unit Astra Tech last year.

Aptium Oncology provided outpatient oncology management and consulting services in the USA, managing outpatient cancer centers in affiliation with five hospitals in California, Florida, New Jersey and New York. The subsidiary generated revenues of $224 million in 2011 and of $43 million in 2012 prior to completion of the disposals.

As indicated in the drugmaker’s 2011 annual report, Aptium Oncology was a non-core business and AstraZeneca had decided to transfer ownership of these cancer centers to each of the hospitals. These agreements have been reached over the last several months and the disposals have now been completed. Financial terms of the deals were not disclosed. The completion of the disposals of Aptium Oncology assets does not impact on AstraZeneca’s previously stated guidance for 2012, the company said.