Roper continues expansion

Medtec, Orange City, Iowa, US, has been acquired by Roper Industries for approximately $150m in cash.

A designer, developer and distributor of enabling technologies for the diagnosis and treatment of cancer, Medtec has a range of products including patient positioning devices and image-guided therapy software and serves around 3,000 cancer care clinics globally.

Roper describes itself as a 'diversified industrial growth company with more than $1bn of revenues, providing engineered products and solutions for global niche markets, including water, energy, radio frequency and research/medical applications', and will use Medtec to continue the expansion of its medical platform within its imaging segment, which also includes CIVCO, a medical instruments supplier acquired in June 2005. Roper expects the two companies to generate around $85m of revenues in 2006.

'This is an outstanding acquisition that further positions Roper in non-cyclical growth markets,' said Brian Jellison, chairman, president and ceo. 'The business enjoys excellent growth, significant recurring revenues, strong margins and high cash returns, and the addition of its direct sales force, manufacturing capability and software engineering expertise will immediately benefits CIVCO and enable future bolt-on acquisitions for this emerging platform.'