A Brighton-based medical imaging company is in the process of being sold. VirtualScopics, which began in 2000, developed out of technology discovered by University of Rochester researchers, is being acquired by BioTelemetry, which is a Pennsylvania-based medical technology company.
A recent release from the two companies say that it’s an all-cash tender offer for all outstanding shares of VirtualScopics, with the purchase worth about $15.5 million.
VirtualScopics’ board has approved the deal and will recommend to their stockholders than they accept it.
VirtualScopics’ CEO Eric Converse released a statement saying “We believe BioTelemetry is the perfect partner for the future of VirtualScopics. They possess the scale and resources to accelerate our growth plan and lead the company into the future. This is an exciting time for everyone at VirtualScopics and we look forward to joining the BioTelemetry team.”
The President and CEO of BioTelemtry, Joseph Capper, says they are “excited to further expand our clinical research offerings with the addition of VirtualScopics’ imaging capabilities,” and he says they welcome VirtualScopics’ employees and customers to the BioTelemetry family.
There was no immediate word on how the acquisition might affect VirtualScopics’ Rochester operation.
