PEABODY, Mass., Feb. 01, 2016 (GLOBE NEWSWIRE) -- Analogic Corporation (Nasdaq:ALOG), enabling the world's medical imaging and aviation security technology, today announced the launch of an ultrasound-based telehealth initiative in support of its expanding service offerings. As part of this initiative, Analogic has acquired Oncura Partners Diagnostics, LLC, a leading provider of remote, real-time ultrasound imaging and teleconsulting services currently focused on the veterinary medicine market.

Jim Green, president and CEO of Analogic, commented, "Combining Analogic's innovative ultrasound capability with Oncura's unique services model, Oncura has successfully applied real-time remote ultrasound imaging and services to the veterinary market. Analogic's strength and leading-edge technologies will accelerate Oncura's growth, while at the same time leveraging this new platform and services in our traditional human healthcare markets."

This new telehealth initiative is led by Farley Peechatka, VP of advanced healthcare technology, who stated, "Through its real-time remote platform, Oncura has successfully enabled clinicians to adopt ultrasound imaging in settings where it was not previously viable. We believe this capability will support our strategy to bring high acuity healthcare solutions to lower cost point-of-care settings, expanding the reach of our BK Ultrasound branded equipment and related services in human healthcare. We would like to welcome Oncura's growing customer base to Analogic."
Founded in 1999, Oncura pioneered the application of real-time remote ultrasound for efficient diagnostic and therapeutic services in previously unserved markets. Oncura is based in Austin, Texas, with approximately 40 employees.

Analogic acquired Oncura in January 2016 for a value of approximately $19 million, including a one-time cash payment of $8 million and an earn out valued at approximately $11 million, subject to adjustments in our purchasing accounting valuation, payable over a four year period. Other terms of the transaction were not disclosed.

In addition, Dr. Sophie Vandebroek has agreed to step down from Analogic's board of directors in view of her ongoing service on the board of IDEXX Laboratories, which is focused on the veterinary market. Dr. Vandebroek commented, "To avoid any potential perceived or real conflict of interest due to my other commitments, we have agreed that the best course of action is that I step down from the Analogic board. It has been an honor to serve on Analogic's board for over seven years. With its portfolio of leading-edge technologies, Analogic is well positioned for future growth. I wish Analogic nothing but the best."

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