Landauer Acquires Global Physics Solutions, Inc. as Platform to Expand Into Medical Physics Services Market
November 09 2009 - 6:00PM
PR Newswire (US)
Additionally, Acquires Gammadata Mattenknik AB to Increase Global
Radon Measurement Capability GLENWOOD, Ill., Nov. 9
/PRNewswire-FirstCall/ -- Landauer, Inc. (NYSE: LDR), a recognized
leader in personal and environmental radiation monitoring services,
today announced the completion of two acquisitions in accordance
with its long-term strategic priorities. "We are pleased to
announce the acquisitions of Global Physics Solutions, Inc. (GPS)
and Gammadata Mattenknik AB (GDM)," said Bill Saxelby, President
and CEO of Landauer. "These acquisitions position Landauer to
execute on our long-term strategic priorities to drive competitive
growth and pursue strategic expansion. These high quality companies
complement Landauer's competencies and the financial
characteristics of our core business while providing entrance into
new market segments." Global Physics Solutions, Inc. (GPS) The
acquisition of Global Physics Solutions, Inc. (GPS), completed on
November 9, 2009, for $22 million in cash, initiates Landauer's
strategic expansion through the extension of services to ensure the
safe utilization of radiation in the healthcare setting. Based in
Texas with operations throughout the Midwest, GPS is the leading
nationwide provider of Medical Physics Services to hospitals and
radiation therapy centers. Medical Physics Services is estimated to
be a $1 billion domestic market that includes clinical physics
support, equipment commissioning, accreditation support, imaging
equipment testing and educational services. Medical physicists
provide clinical and operational support in the safe application of
radiation for diagnosis and treatment of patients. Saxelby
explained, "As we look to expand the scope of our core occupational
health monitoring business, the Medical Physics Services sector is
attractive to us because it is a service model that complements our
core business focus of radiation safety and exhibits attractive
growth characteristics. Global Physics Solutions is healthcare
focused with the same customers as Landauer, has regulatory
support, and has a recurring revenue model with high return
characteristics. This large and expanding market opportunity
provides us with a substantial growth platform and the current
market is highly fragmented with no one company controlling more
than two percent of the market." "The GPS leadership team is
excited to join Landauer," noted Len Wright, President and CEO of
GPS. "Landauer's leadership in radiation safety, combined with our
leadership in medical physics will provide a compelling service
offering to our shared customers." Saxelby added, "We chose GPS not
only because they are the largest company in the market, but they
are also recognized as thought leaders in the industry and have
been able to attract expert medical physicists and a blue chip
customer base. This move expands our leadership in the radiation
science and services arena and helps us better address the desire
of the medical community to understand the impact of increased
utilization of radiation in medical procedures on patient safety."
Landauer acquired GPS from DW Healthcare Partners, a leading
private equity firm focused exclusively on the healthcare industry.
Robert W. Baird & Co acted as financial advisors to Landauer on
this transaction. Gammadata Matteknik AB (GDM) The acquisition of
Gammadata Matteknik AB (GDM) completed on November 2, 2009, for
$6.7 million in cash, aligns with the company's competitive growth
objective through expansion of the company's international platform
with the leading European provider of radon measurement services.
Radon is a naturally occurring radioactive gas that can lead to the
increased risk of lung cancer. The World Health Organization
recently recommended that countries lower radon levels to control
the presence of radon in homes and commercial settings. GDM has
operations outside of Stockholm Sweden and provides measurement
services primarily in the Scandinavian region and throughout
Europe. This transaction will leverage the Company's recent
acquisition of the Studsvik dosimetry service in Sweden, now called
Landauer Persondosimetri AB. "The stability of our core businesses
and strong cash flow we generate is enabling us to execute on our
three strategic growth priorities as planned," explained Jonathon
Singer, Chief Financial Office of Landauer, Inc. "We remain
committed to approaching any strategic expansion opportunities in a
thoughtful and measured manner, and are confident that we will be
able to build upon our success in the coming years." Conference
Call Details Landauer has scheduled a conference call and webcast
to discuss the acquisitions on Tuesday, November 10, 2009 at 9:00
a.m. Eastern Time (6:00 a.m. Pacific Time). To participate, callers
should dial 877-941-9205 (within the United States and Canada) or
480-629-9835 (international calls), and reference the conference ID
#4181265, about 10 minutes before the presentation. To listen to a
webcast on the Internet, please go to the Company's website at
http://www.landauerinc.com/ at least 15 minutes early to register,
download and install any necessary audio software. Investors may
access a replay of the call by dialing 800-406-7325 (within the
United States and Canada) or 303-590-3030 (international calls)
passcode #4181265, which will be available until December 8, 2009.
The replay of the call will remain available on Landauer's website
for 90 days. About Landauer Landauer is the world's leading
provider of technical and analytical services to determine
occupational and environmental radiation exposure. For more than 50
years, the Company has provided complete radiation dosimetry
services to hospitals, medical and dental offices, universities,
national laboratories, nuclear facilities and other industries in
which radiation poses a potential threat to employees. Landauer's
services include the manufacture of various types of radiation
detection monitors, the distribution and collection of the monitors
to and from clients, and the analysis and reporting of exposure
findings. The Company provides its services to approximately 1.6
million people in the United States, Japan, France, the United
Kingdom, Brazil, Canada, China, Australia, Mexico and other
countries. About DW Healthcare Partners DW Healthcare Partners
("DWHP") is a private equity firm providing growth capital for
medical device and healthcare service companies. The firm manages
over $250 million in committed capital and invests in profitable
companies with proven management teams. DWHP provides the capital,
strategic guidance, and acquisition expertise to help mid- to
late-stage healthcare companies realize their potential for growth.
DW Healthcare Partners is led by seasoned healthcare executives
with more than 100 years of combined industry experience. For more
information, please visit http://www.dwhp.com/. Safe Harbor
Statement Some of the information shared here (including, in
particular, the section titled "Fiscal 2009 Outlook") constitutes
forward-looking statements that are based on assumptions and
involve certain risks and uncertainties. These include the
following, without limitation: assumptions, risks and uncertainties
associated with the Company's development and introduction of new
technologies in general; continued customer acceptance of the
InLight technology; the adaptability of optically stimulated
luminescence (OSL) technology to new platforms and formats; the
costs associated with the Company's research and business
development efforts; the usefulness of older technologies; the
effectiveness of changes and upgrades to and costs associated with
the Company's information systems; the anticipated results of
operations of the Company and its subsidiaries or ventures;
valuation of the Company's long-lived assets or business units
relative to future cash flows; changes in pricing of products and
services; changes in postal and delivery practices; the Company's
business plans; anticipated revenue and cost growth; the risks
associated with conducting business internationally; costs incurred
for potential acquisitions or similar transactions; other
anticipated financial events; the effects of changing economic and
competitive conditions; foreign exchange rates; government
regulations; accreditation requirements; changes in the trading
market that affect the cost of obligations under the Company's
benefit plans; and pending accounting pronouncements. These
assumptions may not materialize to the extent assumed, and risks
and uncertainties may cause actual results to be different from
anticipated results. These risks and uncertainties also may result
in changes to the Company's business plans and prospects, and could
create the need from time to time to write down the value of assets
or otherwise cause the Company to incur unanticipated expenses. You
can find more information by reviewing the "Risk Factors" section
in the Company's Annual Report on Form 10-K for the year ended
September 30, 2008, and other reports filed by the Company from
time to time with the Securities and Exchange Commission.
DATASOURCE: Landauer, Inc. CONTACT: Jonathon M. Singer, Senior Vice
President, CFO of Landauer, Inc., +1-708-441-8311, Web Site:
http://www.landauerinc.com/
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