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GTCR-backed Sterigenics buys isotope business Nordion for $727m

31 Mar 2014

tooth teeth scan medical healthcarePrivate equity-backed sterilisation services provider Sterigenics has agreed to buy Canadian medical isotopes company Nordion in a deal worth $727m.

The $11.75 per share take-private deal represented a 12 per cent premium to Nordion’s closing price on the New York Stock Exchange on Thursday.

Nordion is one of the world’s main producers of isotope molybdenum-99, which is used in medical imaging devices.

GTCR bought Sterigenics from fellow buyout house Silverfleet Capital for $675m in 2011.

Silverfleet had hoped it might raise as much as $800m when it called in JPMorgan to arrange the sale in September 2010.

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