EXHIBIT 99.1 LANDAUER, INC.
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NEWS RELEASE
LANDAUER
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LANDAUER ACQUIRES
GLOBAL PHYSICS SOLUTIONS, INC.
AS PLATFORM TO EXPAND INTO
MEDICAL PHYSICS SERVICES MARKET
Additionally, Acquires Gammadata Matteknik AB to
Increase Global Radon Measurement Capability
For Further Information Contact:
Jonathon M. Singer
Senior Vice President, CFO
708-441-8311
jsinger@landauerinc.com
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GLENWOOD, ILL.--NOVEMBER 9, 2009--LANDAUER, INC. (NYSE: LDR), a recognized
leader in personal and environmental radiation monitoring services, today
announced the completion of two acquisitions in accordance with its
long-term strategic priorities.
"We are pleased to announce the acquisitions of Global Physics Solutions,
Inc. (GPS) and Gammadata Matteknik AB (GDM)," said Bill Saxelby, President
and CEO of Landauer. "These acquisitions position Landauer to execute on
our long-term strategic priorities to drive competitive growth and pursue
strategic expansion. These high quality companies complement Landauer's
competencies and the financial characteristics of our core business while
providing entrance into new market segments."
GLOBAL PHYSICS SOLUTIONS, INC. (GPS)
The acquisition of Global Physics Solutions, Inc. (GPS), completed on
November 9, 2009, for $22 million in cash, initiates Landauer's strategic
expansion through the extension of services to ensure the safe utilization
of radiation in the healthcare setting.
Based in Texas with operations throughout the Midwest, GPS is the leading
nationwide provider of Medical Physics Services to hospitals and radiation
therapy centers. Medical Physics Services is estimated to be a $1 billion
domestic market that includes clinical physics support, equipment
commissioning, accreditation support, imaging equipment testing and
educational services. Medical physicists provide clinical and operational
support in the safe application of radiation for diagnosis and treatment of
patients.
Saxelby explained, "As we look to expand the scope of our core occupational
health monitoring business, the Medical Physics Services sector is
attractive to us because it is a service model that complements our core
business focus of radiation safety and exhibits attractive growth
characteristics. Global Physics Solutions is healthcare focused with the
same customers as Landauer, has regulatory support, and has a recurring
revenue model with high return characteristics. This large and expanding
market opportunity provides us with a substantial growth platform and the
current market is highly fragmented with no one company controlling more
than two percent of the market."
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LANDAUER, INC.
"The GPS leadership team is excited to join Landauer," noted Len Wright,
President and CEO of GPS. "Landauer's leadership in radiation safety,
combined with our leadership in medical physics will provide a compelling
service offering to our shared customers."
Saxelby added, "We chose GPS not only because they are the largest company
in the market, but they are also recognized as thought leaders in the
industry and have been able to attract expert medical physicists and a blue
chip customer base. This move expands our leadership in the radiation
science and services arena and helps us better address the desire of the
medical community to understand the impact of increased utilization of
radiation in medical procedures on patient safety."
Landauer acquired GPS from DW Healthcare Partners, a leading private equity
firm focused exclusively on the healthcare industry. Robert W. Baird & Co
acted as financial advisors to Landauer on this transaction.
GAMMADATA MATTEKNIK AB (GDM)
The acquisition of Gammadata Matteknik AB (GDM) completed on November 2,
2009, for $6.7 million in cash, aligns with the company's competitive
growth objective through expansion of the company's international platform
with the leading European provider of radon measurement services. Radon is
a naturally occurring radioactive gas that can lead to the increased risk
of lung cancer. The World Health Organization recently recommended that
countries lower radon levels to control the presence of radon in homes and
commercial settings.
GDM has operations outside of Stockholm Sweden and provides measurement
services primarily in the Scandinavian region and throughout Europe. This
transaction will leverage the Company's recent acquisition of the Studsvik
dosimetry service in Sweden, now called Landauer Persondosimetri AB.
"The stability of our core businesses and strong cash flow we generate is
enabling us to execute on our three strategic growth priorities as
planned," explained Jonathon Singer, Chief Financial Office of Landauer,
Inc. "We remain committed to approaching any strategic expansion
opportunities in a thoughtful and measured manner, and are confident that
we will be able to build upon our success in the coming years."
CONFERENCE CALL DETAILS
Landauer has scheduled a conference call and webcast to discuss the
acquisitions on Tuesday, November 10, 2009 at 9:00 a.m. Eastern Time (6:00
a.m. Pacific Time). To participate, callers should dial 877-941-9205
(within the United States and Canada) or 480-629-9835 (international
calls), and reference the conference ID #4181265, about 10 minutes before
the presentation. To listen to a webcast on the Internet, please go to the
Company's website at http://www.landauerinc.com at least 15 minutes early
to register, download and install any necessary audio software. Investors
may access a replay of the call by dialing 800-406-7325 (within the United
States and Canada) or 303-590-3030 (international calls) passcode #4181265,
which will be available until December 8, 2009. The replay of the call will
remain available on Landauer's website for 90 days.
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LANDAUER, INC.
ABOUT LANDAUER
Landauer is the world's leading provider of technical and analytical
services to determine occupational and environmental radiation exposure.
For more than 50 years, the Company has provided complete radiation
dosimetry services to hospitals, medical and dental offices, universities,
national laboratories, nuclear facilities and other industries in which
radiation poses a potential threat to employees. Landauer's services
include the manufacture of various types of radiation detection monitors,
the distribution and collection of the monitors to and from clients, and
the analysis and reporting of exposure findings. The Company provides its
services to approximately 1.6 million people in the United States, Japan,
France, the United Kingdom, Brazil, Canada, China, Australia, Mexico and
other countries.
ABOUT DW HEALTHCARE PARTNERS
DW Healthcare Partners ("DWHP") is a private equity firm providing growth
capital for medical device and healthcare service companies. The firm
manages over $250 million in committed capital and invests in profitable
companies with proven management teams. DWHP provides the capital,
strategic guidance, and acquisition expertise to help mid- to late-stage
healthcare companies realize their potential for growth. DW Healthcare
Partners is led by seasoned healthcare executives with more than 100 years
of combined industry experience. For more information, please visit
www.dwhp.com.
SAFE HARBOR STATEMENT
Some of the information shared here (including, in particular, the section
titled "Fiscal 2009 Outlook") constitutes forward-looking statements that
are based on assumptions and involve certain risks and uncertainties. These
include the following, without limitation: assumptions, risks and
uncertainties associated with the Company's development and introduction of
new technologies in general; continued customer acceptance of the InLight
technology; the adaptability of optically stimulated luminescence (OSL)
technology to new platforms and formats; the costs associated with the
Company's research and business development efforts; the usefulness of
older technologies; the effectiveness of changes and upgrades to and costs
associated with the Company's information systems; the anticipated results
of operations of the Company and its subsidiaries or ventures; valuation of
the Company's long-lived assets or business units relative to future cash
flows; changes in pricing of products and services; changes in postal and
delivery practices; the Company's business plans; anticipated revenue and
cost growth; the risks associated with conducting business internationally;
costs incurred for potential acquisitions or similar transactions; other
anticipated financial events; the effects of changing economic and
competitive conditions; foreign exchange rates; government regulations;
accreditation requirements; changes in the trading market that affect the
cost of obligations under the Company's benefit plans; and pending
accounting pronouncements. These assumptions may not materialize to the
extent assumed, and risks and uncertainties may cause actual results to be
different from anticipated results. These risks and uncertainties also may
result in changes to the Company's business plans and prospects, and could
create the need from time to time to write down the value of assets or
otherwise cause the Company to incur unanticipated expenses. You can find
more information by reviewing the "Risk Factors" section in the Company's
Annual Report on Form 10-K for the year ended September 30, 2008, and other
reports filed by the Company from time to time with the Securities and
Exchange Commission.
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