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Syncor Announces Two Overseas Acquisitions (Business Wire)...a high technology medical device capable of delivering an extremely accurate, single dose of radiation in treating lesions, tumors and other abnormalities deep within the brain....- Mar 21 8:55 AM ET

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Posted on: 03/21/2001

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Wednesday March 21, 8:55 am Eastern Time

Press Release

Syncor Announces Two Overseas Acquisitions

Gamma Knife Venture in Brazil and Radiopharmaceutical Distributor in New Zealand

WOODLAND HILLS, Calif.--(BW HealthWire)--March 21, 2001--Syncor International Corporation (Nasdaq:SCOR - news) today announced the completion of two acquisitions by Syncor's international business unit, Syncor Overseas.

The first is the acquisition of a gamma knife in Brazil, and includes an agreement with a leading hospital in Brazil to manage its gamma knife center. This represents Syncor's initial entry into Brazil. The second acquisition, a radiopharmaceutical distributor in New Zealand, complements Syncor's existing base of business in that region. Both transactions are expected to be accretive in 2001.

Gamma Knife Center in Brazil

In Brazil, Syncor entered into an agreement with Hospital Santa Paula in Sao Paulo to purchase its Leksell gamma knife, a high technology medical device capable of delivering an extremely accurate, single dose of radiation in treating lesions, tumors and other abnormalities deep within the brain.

The technology is a cost-effective, high quality and non-invasive alternative to patients suffering from cancer, Parkinson's disease and other neurological disorders. Under the agreement, Syncor will lease the gamma knife to Hospital Santa Paula and will manage the gamma knife center at the facility. This gamma knife is currently the only one in Brazil, out of a total of two in all of South America.

"Our gamma knife venture in Brazil demonstrates our commitment to provide leading medical technology solutions in every critical step of the disease management process -- from diagnosis to treatment to follow-up monitoring -- to providers and patients around the world," said Robert Funari, Syncor's president and chief executive officer.

"Our agreement with Hospital Santa Paula marks our first entry into the Brazilian healthcare market, the largest in all of Latin America," added Haig Bagerdjian, president and chief executive officer of Syncor Overseas.

"Our presence in Brazil not only adds to our Latin American operations in Argentina, Mexico, Colombia, Puerto Rico and Trinidad and Tobago, but it also opens up new and profitable opportunities for Syncor to apply its expertise and resources in radiopharmacy, medical imaging, positron emission tomography (PET) and brachytherapy," said Bagerdjian.

Acquisition in New Zealand

In New Zealand, Syncor acquired Nuclear Supplies Ltd., a leading distributor of radiopharmaceuticals. Through the acquisition, Syncor acquires a distribution network that includes agreements to distribute radiopharmaceutical products manufactured by DuPont Pharmaceutical Company and CIS bio international, a subsidiary of Schering AG, and radiolabelled compounds manufactured by American Radiolabelled Compounds and ICN Biomedical, among others. Syncor already owns a medical imaging center and radiopharmacy in New Zealand, as well as three radiopharmacies in Australia.

"With the acquisition, Syncor expects to consolidate its growing market position in New Zealand and Australia and to gain access to existing supply channels as well as new market opportunities in both countries," said Bagerdjian.

About Syncor

Syncor International Corporation is a leading provider of high technology health care services concentrating on nuclear pharmacy services, medical imaging, niche manufacturing and radiotherapy. In the nuclear pharmacy services business, Syncor compounds and dispenses radiopharmaceuticals for diagnostic and therapeutic use by nuclear medicine departments in hospitals and outpatient clinics. Syncor distributes these time-critical pharmaceuticals through an integrated network of more than 120 domestic and 19 international nuclear pharmacies. Medical imaging services are provided through an integrated network of 58 domestic and 13 international owned or operated facilities (including two catheterization laboratories overseas). Domestic medical imaging operations are conducted by Syncor's wholly owned subsidiary, Comprehensive Medical Imaging Inc. and international operations are conducted by Syncor Overseas Ltd. Syncor also owns or operates two domestic and two international production facilities for positron emission tomography (PET) radiopharmaceuticals, and is a party to a series of agreements to make PET technology more accessible to healthcare providers and patients nationwide. This network also provides information management services and currently services more than 7,000 customers. Syncor also produces and markets Iodine-125 brachytherapy seeds used to treat prostate cancer.

This news release contains forward-looking statements that involve risks and uncertainties. These statements are based on current expectations; actual results may differ materially. Among the factors that could cause actual results to differ materially from those projected are the following: the effect of general economic and market conditions, supply and demand for the company's products, competitor pricing, maintenance of the company's current market position, the risk factors reported from time to time in the company's SEC reports, and other factors. Given these uncertainties, undue reliance should not be placed on such forward-looking statements.

     Syncor International Corporation
     Mike E. Mikity, 818/737-4610
     Tim G. Guttman, 818/737-4507
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