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Syncor International Corp

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BUSINESS
January 28, 1997
Syncor International Corp., a Chatsworth operator of nuclear pharmacies, said it has signed a supply contract with VHA Inc. with a potential value of $270 million over four years. VHA is an Irving, Texas-based hospital group. Syncor International operates an expanding network of 121 domestic and nine international nuclear-pharmacy service centers.
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BUSINESS
December 31, 2002 | E. Scott Reckard
Shareholders of Woodland Hills-based Syncor International Corp. overwhelmingly approved a $1-billion buyout by Ohio drug distributor Cardinal Health Inc., the companies said. The takeover of Syncor, which prepares and delivers radioactive prescriptions, was stalled in November by the disclosure that Syncor founder Monty Fu and his brother made improper payments to foreign officials. Cardinal ultimately agreed to complete the deal, though it cut its all-stock offer by 9.6%, to about $800 million.
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BUSINESS
July 23, 1996
Syncor International Corp. has authorized the buyback of an additional 500,000 shares of its stock on the open market. The Chatsworth-based pharmaceutical company had previously announced a buyback of about 200,000 shares. Companies typically have buyback programs because they believe their stock is undervalued and hope that shrinking the number of shares outstanding will drive up the price. Syncor's stock has traded recently in the $14 range.
BUSINESS
November 22, 2002 | From Times Staff and Wire Reports
Drug wholesaler Cardinal Health Inc. has started talks about possibly revising its $1.1-billion deal for Syncor International Corp., the Woodland Hills-based nuclear pharmacy services company that is investigating whether its subsidiaries made improper payments to overseas customers. Based on its review so far, Syncor believes it can satisfy conditions of the acquisition, the firms said in a joint statement. Cardinal said it had not concluded whether the merger could be completed.
BUSINESS
January 30, 1996
Syncor International Corp. said it will make a $14-million investment in the development and distribution of a new type of diagnostic tool for detecting lung and breast cancer over the next three years. The product, called positron emission tomography, is an extension of the kind of radio-pharmaceutical product the company already sells. Syncor expects to set up 24 distribution centers for it nationwide.
CALIFORNIA | LOCAL
October 31, 2000
Syncor International Corp., Woodland Hills, reported net income of $6.3 million for the third quarter that ended Sept. 30, compared with $3.2 million for the third quarter last year. Net sales for the quarter rose 18.2% to $155.5 million from $131.5 million. Syncor provides high-technology health-care services including nuclear pharmaceuticals, medical imaging and radiotherapy products.
BUSINESS
October 28, 1997
Syncor International Corp. said it signed a five-year sole-source contract with AmeriNet Inc. to supply unit dose and bulk radiopharmaceuticals on a national basis. The Chatsworth-based pharmaceuticals firm said that the agreement has a potential value of $210 million. St. Louis-based AmeriNet is one of the largest group purchasing organizations in the nation with more than 7,100 members in all 50 states making more than $3.5 billion in purchases annually.
BUSINESS
March 19, 1996
Syncor International Corp. posted a profit turnaround in the fourth quarter, while its net income for all of 1995 nearly quadrupled compared to 1994. The Chatsworth-based company posted net income of $1.13 million in the fourth quarter, compared to a $537,000 loss a year earlier. Syncor's sales in the fourth quarter rose 4% to $85.1 million, compared to $81.7 million a year earlier. For all of 1995, Syncor saw its net income jump to $4.7 million, compared to $1.
BUSINESS
December 28, 1993
Syncor International Corp., a Chatsworth provider of specialty pharmaceutical services, said its fiscal second-quarter profit surged 35% to $2.85 million, from $2.11 million a year earlier. For the quarter that ended Nov. 30, the company's revenue rose 8% to $61.2 million, from $56.9 million a year earlier. Syncor attributed the improved results partly to its recent strategic alliance with its principal supplier of radiopharmaceuticals, DuPont Merck Pharmaceutical Co.
BUSINESS
November 20, 2002 | E. Scott Reckard, Times Staff Writer
Syncor International Corp., which is investigating suspected bribes by its overseas units, said Tuesday that its Taiwan operation made $500,000 in apparently illegal payments to customers in the last five years. Woodland Hills-based Syncor also said a committee of its outside directors turned up "questionable payments and other transactions" in at least six other countries, which it said may have violated the Foreign Corrupt Practices Act and other U.S. laws.
BUSINESS
November 14, 2002 | Scott Reckard
Seeking more time to investigate possible bribes to foreign officials, nuclear medicine provider Syncor International Corp. said it will request a five-day extension for filing its Sept. 30 quarterly financial results with the Securities and Exchange Commission. In a disclosure that cut its stock price in half last week, Syncor said it hired outside lawyers to investigate payments by its foreign subsidiaries.
BUSINESS
June 15, 2002 | Reuters
Drug wholesaler Cardinal Health Inc. said it will pay about $870 million in stock to buy Syncor International Corp., the leading provider of pharmacy services that uses radioactive compounds to diagnose and treat ailments. Dublin, Ohio-based Cardinal is buying the business to supplement its 2001 acquisition of Bindley Western, which has a strong franchise in nuclear medicine. The deal's value is based on the 14 million Cardinal shares offered to Syncor holders at $62.
CALIFORNIA | LOCAL
February 27, 2001
Syncor International Corp. in Woodland Hills reported net income of $6.7 million for the fourth quarter that ended Dec. 31, up 46% from $4.6 million for the same quarter the previous year. Revenue rose 27% to $170.6 million from $134.6 million. For the year, net income rose to $29.5 million from $19.2 million. Revenue increased by 21% to $629.4 million from $520 million. Syncor provides high-technology health-care services, including nuclear pharmacy services, medical imaging and radiotherapy.
CALIFORNIA | LOCAL
October 31, 2000
Syncor International Corp., Woodland Hills, reported net income of $6.3 million for the third quarter that ended Sept. 30, compared with $3.2 million for the third quarter last year. Net sales for the quarter rose 18.2% to $155.5 million from $131.5 million. Syncor provides high-technology health-care services including nuclear pharmaceuticals, medical imaging and radiotherapy products.
CALIFORNIA | LOCAL
October 10, 2000
Syncor International Corp. of Woodland Hills announced that its subsidiary, Syncor Overseas Ltd., has acquired Bionuclear, an Argentina-based company that supplies medical imaging equipment. Terms of the agreement were not disclosed. Syncor provides high-technology medical services, including nuclear medicine, as well as medical imaging products and services.
CALIFORNIA | LOCAL
August 8, 2000 | BLOOMBERG NEWS
Syncor International Corp. in Woodland Hills, the No. 1 distributor and manufacturer of nuclear medicines for hospitals and clinics, said its subsidiary has agreed to buy 14 medical imaging centers from US Diagnostic Inc. for about $41 million in cash and debt. Syncor's Comprehensive Medical Imaging Inc. unit will pay $39.5 million in cash and assume $1.5 million in debt for seven Florida and seven California properties.
CALIFORNIA | LOCAL
July 18, 2000
Syncor International Corp. in Woodland Hills announced a 2-for-1 stock split of its outstanding common stock. Syncor has about 12 million shares outstanding. The split entitles each shareholder of record on July 26 to receive a stock dividend of one additional share for each share of Syncor common stock held on that date. Syncor provides high-technology health care services including nuclear pharmacy services, medical imaging and radiotherapy.
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