A Medical Device Daily

Elron Electronic Industries (Tel Aviv, Israel) reported that its Galil Medical subsidiary will sell its 25% stake in Oncura (Plymouth Meeting, Pennsylvania), which focuses on the minimally invasive management of prostate cancer, to Oncura's 75% shareholder, GE Healthcare (Waukesha, Wisconsin). Additionally, it reported that it will acquire Oncura's urology related cryotherapy business for about $20 million.

Oncura originally formed in July 2003 as a combination of Galil's urology business and the brachytherapy business of Amersham (Little Chalfont, UK), now part of GE Healthcare.

In other dealmaking action:

Flextronics International (Singapore) and International DisplayWorks (IDW; Roseville, California) reported that the exchange ratiofor Flextronics's proposed purchase of IDW will be 0.5653. The exchangeratio represents the fraction of a Flextronics ordinary share that will beexchanged for each share of IDW common stock held by IDW stockholders uponthe closing of the proposed acquisition.

A special meeting of IDW stockholders is scheduled for today to approve the acquisition.

The exchange ratio was calculatedby dividing $6.55 by $11.5865, the average per-share closing price ofFlextronics's ordinary shares on the Nasdaq Global Select Market during the20 consecutive trading days prior to the closing date of the proposed acquisition (Nov. 22). The exchange ratio calculation assumes that the closing of the proposed acquisition will take place as currently scheduled and is subject to change if for any reason the closing does not occur on the scheduled date.

Flextronics is an electronics manufacturing services (EMS) provider delivering design, engineering and manufacturing services to medical and mobile OEMS, automotive, computing, consumer digital sectors and industry.

IDW is a maker of liquid crystal displays, modules and assemblies for a variety of customer needs including OEM applications.