This transaction, worth a total of 23.5 million euros, will to a large extent be financed via the issue of new IBt shares. The rest will come from a loan the terms and conditions of which are being negotiated with the present shareholders, who hold approximately 36% of the share capital.

François Blondel, IBt's current managing director, will become CEO of the new company. International Brachytherapy (IBt) is thus speeding up its expansion considerably.

"This is a very special opportunity for IBt," François Blondel reported with satisfaction. "The geographical match is perfect. Our joint market share will be more than 40%. We are comparable in size but" - the managing director emphasises - "there is a difference in size: the company we are taking over is highly profitable. " Bebig has a turnover of 10 million euros and an EBITDA of 3.9 million euros.

The deal on the brink of completion does not stop there. "We have the opportunity to buy out another portion of EZAG," François Blondel explained. "If we take up that option, IBt will triple in size." This division, which specialises in temporary implants, achieved sales worth 12 million euros in 2007 and makes a profit.

Final aspect: the two cyclotrons IBt purchased some time ago for a total price of 5 million euros (excluding installation) might be bought or used by EZAG. "Since the capital cost of this equipment has already been paid off, it means an immediate net profit," says Blondel.

So far as future prospects are concerned, IBt expects to realise a turnover of 20 million euros this year. It could be over 30 million if IBt decide to take over EZAG's temporary implant business. In 2009, the EBITDA margin should be more than 30%. Can we expect a profit in 2008 as previously announced? "We'll need time to complete the integration process," François Blondel says cautiously. "But the news will be good in 2008 and excellent in 2009. "

18/02/2008 - L'Echo