The deal cash purchase consideration amounts to EUR57.5m on cash and debt-free basis and it also includes an additional possible earn-out EUR12.5m in accordance with specially agreed terms and conditions.

Sectra said except for Australia and New Zealand it will continue to sell and service Sectra MicroDose Mammography under a separate distribution agreement with Philips.

Sectra president and CEO Jan-Olof Bruer said it will free up resources and funds that can be used to develop and expand their operations in medical imaging IT and also products for the management of digital radiology images.

"The MicroDose modality operations and customers will benefit from the resources and knowledge that Philips will bring to the development of the product offering," Bruer said.