ImageWorks has signed an agreement in principal to sell its NewTom cone-beam CT (CBCT) imaging division to Cefla for an undisclosed amount.
The transaction does not affect ImageWorks' Dent-X, veterinary, and EVA brands, according to the company.
In August 2009, ImageWorks' predecessor AFP Imaging sold its QR Imaging Division to Cefla and retained exclusive distribution rights for the NewTom products in the U.S., Canada, Latin America, Australia, and parts of the Middle East.
With this new deal, Cefla will assume sales and service responsibility for this territory for human NewTom 3DCT applications. ImageWorks will retain exclusive rights for distribution of the NewTom product for veterinary applications.
During the past two years, ImageWorks has created and maintains nearly a 100% market share in the mobile CBCT marketplace with annual sales in excess of $5 million while maintaining an approximately 12% share in standalone office-based applications. The company has indicated that proceeds from the sale will be applied to the recapitalization of its debt facility.
ImageWorks has grown its dental, veterinary, and medical businesses "significantly" through its manufacturing and distribution of Dent-X, EVA and ImageVet product lines, the company stated.
ImageWorks will now dedicate all its sales efforts to work exclusively through its network of more than 3,000 dental and veterinary dealers and distributors in over 46 countries worldwide, according to R. Scott Jones, company chairman.
