RTX Telecom, a Danish company that develops and manufacturers wireless communication solutions, has sold its subsidiary RTX Healthcare to a leading international player, writes Computerworld. The identity of the company has not yet been divulged, but the new owner is among the world's leading manufacturers of telehealth solutions. RTX Healthcare specialises in the development and manufacture of wireless medical devices for remote monitoring of patients suffering from chronic diseases.
The price tag of the deal was described in somewhat veiled terms as 'a million sum in Euro', where 20% will be paid cash and the remaining 80% will be in the form of an earn-out, a payment based on RTX Healthcare's earnings over the next two years.
RTX Telecom MD Tage Rasmussen told Computerworld that the sale is part of a conversion process where the company will concentrate on its core area of advanced solutions for the telecom industry:
"We are now focusing on our core area. It is our hope that the new strategy means we can break even in the new financial year. The earnings from the sale naturally contribute to that process, but how much this will be, I can not really reveal without disclosing the price."
RTX Telecom develops wireless solutions for leading brand name manufacturers worldwide. The company's expertise covers the entire range of wireless technologies, including wireless wide area, local area and personal area network. RTX Telecom is headquartered in Noerresundby, Denmark, and has facilities in Hong Kong and San Jose, USA.