THIS POST HAS BEEN UPDATED 19/09/2018 - Kanteron Systems confirms it has sent the Board of Directors of Agfa-Gevaert NV a non-binding indication of interest for the acquisition of all shares in Agfa-Gevaert NV by way of a voluntary conditional public takeover offer of Kanteron Systems to all shareholders of Agfa-Gevaert NV.

“Agfa Healthcare business unit revenues have been stagnant in the last few years. However, a deal with Kanteron would allow Agfa to tap into our leading-edge technology, particularly in Pathology and Genomics, enabling Agfa to take the lead in the new Clinical Information Systems for Precision Medicine market, which is a huge and disruptive long-term growth opportunity” commented Jorge Cortell, Kanteron Systems’ CEO. “Some of Agfa’s largest international distributors have already signed up with Kanteron Systems. It’s time we give the whole Agfa family access to our innovative technology”.

Industry reactions to the announcement have been very positive. Nadim Michel Daher, Industry Principal (Medical Imaging and Imaging Informatics - Transformational Health) at analyst and consultancy firm Frost & Sullivan commented this about the proposed deal:

Very interesting! I do think Agfa would be a good fit, in light of their early-stage digital pathology play and their attempt at broader data management platforms (VNA/ECM).

The communications between the companies are at an early stage, therefore, there is no certainty as to whether, and under which conditions, Kanteron Systems may make a public tender offer to the shareholders of Agfa-Gevaert NV.

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Aunt Minnie

UPDATE:

Agfa-Gevaert NV said in a statement dated September 13th that its management decided not to engage in discussions with Kanteron Systems at this stage.

Following the request of the Financial Services and Markets Authority of Belgium, Kanteron Systems has decided to restrict any further communication regarding this issue. Therefore further announcements will be made in due course, if and when circumstances so require, following the channels and regulations determined by FSMA.

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Reuters

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