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Bristol-Myers Sheds Unit

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NEW YORK, Dec. 17, 2007 -- Bristol-Myers Squibb Co. announced today it will sell its medical imaging subsidiary to private equity firm Avista Capital Partners for $525 million. Bristol-Myers said it will sell Bristol-Myers Squibb Medical Imaging (BMS MI) and reinvest the cash in research and development. The company announced Dec. 5 that it intended to divest the business, which supplies imaging products for nuclear and ultrasound cardiovascular diagnostic imaging procedures and is based in North Billerica, Mass., as part of a company restructuring plan. "As Bristol-Myers Squibb continues to focus on evolving...Read full article

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    Published: December 2007
    Glossary
    photonics
    The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
    acquisitionsAvista CapitalbiopharmaBiophotonicsBMS MIBoston ScientificBristol-Myers SquibbdiagnosticDon KiepertEmploymenthealth careImagingindustrialmedicalmedical imagingNews & FeaturesphotonicsPoint Therapeuticsultrasound

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