Elekta has acquired Mesi Medikal A.S., a leading distributor of radiation oncology solutions in Turkey. The acquisition significantly strengthens Elekta’s market position in a country with a shortage of radiotherapy devices and software and a growing incidence of cancer.
Around 100,000 Turkish patients are estimated to need radiotherapy each year – a figure expected to reach approximately 170,000 by 2023*. Elekta will increase its commitment to this high-growth market by establishing an office in the country, staffed by Mesi Medikal’s current employees.
"With only about two linear accelerators per million people in Turkey, we see strong growth opportunities," says Niklas Savander, President and CEO of Elekta. "Elekta projects that almost 380 linear accelerators will be required by 2023, compared to today’s 210 units. The best way to capture this growth is to develop the relationship we have had with Mesi Medikal since 1997."
In addition to linear accelerators, Mesi Medikal has also been Elekta’s distributor for software and brachytherapy solutions.
The acquisition of Mesi Medikal is expected to add approximately 0.3% to Elekta’s revenues on an annual basis. The transaction is expected to be EPS accretive on an annual basis. There is a three-year earn out component to the agreement between seller and Elekta.
Both signing and closing of this acquisition will take place today, July 24, 2014. Mesi Medikal will change its name to Elekta and will be a fully owned company.