Richardson Electronics Sells Substantial Portion Of Its Healthcare Reportable Segment To DirectMed
Richardson Electronics Ltd. (RELL), known for its engineered solutions in renewable energy and power management, announced the divestiture of a significant portion of its Richardson Healthcare segment to DirectMed Imaging.
At the close of regular trading on Friday, RELL shares stood at $13.12, marking a decline of $0.24 or 1.80%. However, the stock experienced a positive shift in after-hours trading, rising by $0.98 or 7.47%.
Furthermore, Richardson Electronics has secured an exclusive 10-year global supply agreement to provide DirectMed with repaired Siemens CT X-ray tubes.
In the interim 12 to 18 months, Richardson Electronics will continue to produce ALTA CT X-ray tubes for DirectMed. The remaining assets and operations of the Richardson Healthcare segment, predominantly focused on CT X-ray tube manufacturing and repair, are set to be integrated into the Company’s PMT segment.
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