FIRM ADVANCES CANCER FIGHT SYNCOR ACQUIRES DRUG FIRM, GAMMA KNIFE.Byline: Evan Pondel Staff Writer Syncor International Corp. announced on Wednesday the acquisition of two businesses to bolster the company's arsenal of cancer-fighting technologies overseas. The Woodland Hills-based company purchased a Leksell gamma knife Gamma Knife A trademark for a radiologic nonsurgical device used in stereotactic radiosurgery. Gamma knife A surgical tool that focuses beams of radiation at the head, which converge in the brain to form a lesion. in Brazil for $2.6 million and a drug distributor in New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. for $400,000. The gamma knife, which will be used at a hospital in Sao Paulo, is used to treat cancer by bombarding Bombarding is the process of 'pumping' a Cold Cathode Lighting tube (otherwise called Neon Signs). Information A detailed process of bombarding can be found here, Bombarding. a tumor tumor: see neoplasm. with gamma rays Gamma rays Electromagnetic radiation emitted from excited atomic nuclei as an integral part of the process whereby the nucleus rearranges itself into a state of lower excitation (that is, energy content). . While Syncor formed a business partnership with the hospital to use the gamma knife, the drug distributor in New Zealand is not affiliated with any other group. ``We bought a distributor because we'll get better pricing for our drugs,'' said Tim Guttman, corporate controller at Syncor. The two acquisitions are bold moves in a time of economic despair for many technology companies. But analysts remain bullish on the company because of its ability to sustain growth. ``Syncor is a company that has done very well in meeting analysts' expectations and the management is very strong,'' said Mitra Ramgopal, a financial analyst with New York-based Sidoti and Co. ``The company is now trying to grow its overseas business, even though these are small acquisitions for the company.'' Despite the acquisitions, few companies are willing to purchase businesses amid a downtrodden down·trod·den adj. Oppressed; tyrannized. downtrodden Adjective oppressed and lacking the will to resist Adj. 1. economy. Syncor's credit line and its internal cash flow enabled the health care service provider to expand its business overseas, said Tim Guttman, corporate controller of Syncor. Guttman said the company is also exploring a secondary offering of its stock, but weakness in the economy is a strong deterrent. ``The average annual earnings per share growth in the company is in excess of 25 percent,'' Ramgopal said. At Wednesday's close, Syncor gained 3 cents, rising to $30.03 on the Nasdaq Composite Index Nasdaq Composite Index An index that indicates price movements of securities in the over-the-counter market. It includes all domestic common stocks in the Nasdaq System (approximately 5,000 stocks) and is weighted according to the market value of each listed . |
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