Richardson Electronics Divests Majority of Healthcare Arm

Dow Jones

25 Jan

By Connor Hart

Richardson Electronics sold a majority of its healthcare arm and entered into a global-supply agreement with medical-imaging company DirectMed.

Terms of the sale, which closed Friday, weren't disclosed.

The maker of engineered solutions and green-energy products said the deal will simplify its business, improve its financial model and allow it to prioritize opportunities in higher-growth markets.

The remaining assets and operations of its Richardson Healthcare unit--primarily consisting of CT X-ray tube manufacturing and repair--will be consolidated into its Power & Microwave Technologies unit, the company said.

In addition to the sale, Richardson entered an exclusive 10-year global supply agreement with DirectMed, under which it will supply the company with repaired Siemens CT X-ray tubes.

The company's shares rose 12% to $14.70 in post-market trading, and ended the regular session down 1.8%.

San Diego-based DirectMed said the buy will expand its Canon/Toshiba MRI and CT parts expertise and inventory breadth, as well as allow it to enter the Canon/Toshiba CT training market for engineers and biomedical professionals.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

January 24, 2025 18:23 ET (23:23 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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