Digirad announces closing of sale of its MDSS service contracts to Philips North America

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Digirad announces closing of sale of its MDSS service contracts to Philips North America

Press releases may be edited for formatting or style | February 05, 2018 Business Affairs
SUWANEE, Ga., Feb. 02, 2018 (GLOBE NEWSWIRE) -- Digirad Corporation (Nasdaq:DRAD) today announced that it had closed its previously announced definitive purchase agreement with Philips North America (“Philips”) to sell its MDSS Service contracts for total consideration of $8 million, less customary closing adjustments.

Digirad President and CEO Matt Molchan said, “We are pleased that we were able to conclude the closing of this transaction, and believe the business will be in good hands with Philips. Now that we are closed, we can move forward with focusing on our core business – providing mobile diagnostic healthcare solutions.”

The MDSS Service business provided post warranty contract maintenance services for large diagnostic imaging equipment, primarily in the upper mid-west region of the United States for Philips products, and represented a portion of the MDSS reportable segment.

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About Digirad Corporation

Digirad delivers convenient, effective, and efficient healthcare solutions on an as needed, when needed, and where needed basis. Digirad’s diverse portfolio of mobile healthcare solutions and diagnostic imaging equipment and services, provides hospitals, physician practices, and imaging centers throughout the United States access to technology and services necessary to provide exceptional patient care in the rapidly changing healthcare environment.

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