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Publish Date : 30-Oct-2015

The world leader in interventional oncology cryoablation technology, Galil Medical, has announced that it has entered into a deal to acquire all of Perseon Corporation, a publicly-traded company and a leader in the field of microwave ablation, in an all cash deal worth $10.6M. The resulting combined entity will be a privately owned firm.

Among other things, the deal is subject to, Galil raising around $26 million concurrent with the deal's closing and upon the tender of a majority of Perseon's outstanding common stock and 65% of Perseon's publicly-traded warrants, and would close in December 2015 or early 2016.

Martin J. Emerson, Galil Medical President and CEO, who will remain in the same position in the new firm, said, "The combination of Galil and Perseon will allow the new company to further leverage the significant investments both Galil and Perseon have made in the field of interventional oncology. The vast majority of interventional oncologists utilize both cryoablation and microwave ablation technologies to treat their broad patient base, and we look forward to bringing even more value to the physician and patient base that both Galil and Perseon are currently serving."

"We believe there are significant operating synergies that we can derive by combining these two companies, which will allow for significant investments in both clinical research and new product development. Galil has built a strong and well-regarded reputation for its commitment to innovation and its investments in both meaningful clinical research and truly differentiated new products, and the new company will hold itself to that same high standard."

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