Syncor Expands Services Offered in Brazil
(Business Wire)...Seeds are radioactive sources that are implanted in localized tumors to eradicate the cancer.......A gamma knife is a medical device capable of delivering an extremely accurate dose of radiation used in the treatment of lesions, tumors and other brain abnormalities....- May 16 1:35 PM ET
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Posted on: 05/16/2001
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Wednesday May 16, 1:35 pm Eastern Time
Syncor Expands Services Offered in Brazil
WOODLAND HILLS, Calif.--(BUSINESS WIRE)--May 16, 2001--Syncor
International Corporation (NasdaqNM:SCOR) today announced that its
Brazilian subsidiary has entered into two agreements in Brazil that
will expand the range of services offered by Syncor in that country.
Both agreements are expected to be slightly accretive. Syncor
entered the Brazil market earlier this year with its agreement to
manage the only gamma knife facility in Brazil.
The first agreement announced today is with the Kaplan Clinic, an
oncology center located in Porto Alegre, Brazil, to manage and direct
all non-medical functions at the clinic. Under the 10-year agreement,
Syncor will also operate the pharmacy at the clinic to compound
chemotherapy infusion pharmaceuticals for use in chemotherapy
treatments throughout Porto Alegre, the largest city in southern
Brazil. The Kaplan Clinic is one of the largest private chemotherapy
infusion centers in southern Brazil, and is owned by Dr. Algemir
Brunetto and Dr. Gilberto Schwartsmann, two of the most prominent
oncologists in all of Latin America.
In addition, Syncor expanded its existing agreement with Hospital
Santa Paula in Sao Paulo to include the management of a brachytherapy
center at the facility for the treatment of prostate cancer using
brachytherapy seeds. Seeds are radioactive sources that are implanted
in localized tumors to eradicate the cancer.
Syncor manages the gamma knife facility at Hospital Santa Paula in
Sao Paulo, the world's third largest city and the largest city in
South America. A gamma knife is a medical device capable of delivering
an extremely accurate dose of radiation used in the treatment of
lesions, tumors and other brain abnormalities.
"Our investments in the Kaplan Clinic and in Hospital Santa Paula
reflect our strategy to use our expertise and resources in the area of
time-critical pharmaceuticals, medical facility management and
brachytherapy to develop and expand our oncology, cardiology and
neurology service offerings in Brazil," said Haig Bagerdjian,
President and Chief Executive Officer of Syncor Overseas Ltd. "We
expect that our association with these leaders in cancer treatment in
Brazil will create additional expansion opportunities for Syncor. With
a population of 160 million, and limited radiopharmaceutical services
currently available, we believe the Brazil market represents a strong
opportunity for Syncor."
About Syncor International Corporation
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 to more than 7,000
U.S.-based customers through an integrated network of 127 domestic and
19 international nuclear pharmacies. Medical imaging services are
provided through an integrated network of 60 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. Syncor also produces and
markets Iodine-125 brachytherapy seeds used to treat prostate cancer,
and operates a gamma knife facility in South America.
Syncor Overseas Ltd.
Haig S. Bagerdjian, 818/737-4549
Syncor International Corporation
Tim G. Guttman, 818/737-4507
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