Richardson Electronics (RELL) announced the strategic asset sale of a majority of Richardson Healthcare to DirectMed Imaging. The transaction closed on January 24. Under the terms of the transaction, Richardson Electronics sold a substantial portion of the Richardson Healthcare reportable segment to DirectMed. Additionally, Richardson Electronics entered into an exclusive 10-year global supply agreement in which Richardson will supply DirectMed with repaired Siemens CT X-ray tubes. Richardson Electronics will also continue manufacturing ALTA CT X-ray tubes for DirectMed for approximately 12 to 18 months. The remaining assets and operations of the Richardson Healthcare reportable segment, primarily CT X-ray tube manufacturing and repair, will be consolidated into the Company’s PMT reportable segment.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RELL:
- Richardson Electronics downgraded to Market Perform from Outperform at Northland
- Richardson Electronics Reports Strong Q2 Earnings Growth
- Richardson Electronics reports Q2 EPS (5c), consensus (2c)
- Options Volatility and Implied Earnings Moves This Week, January 06 – January 10, 2025
- RELL Earnings Report this Week: Is It a Buy, Ahead of Earnings?