Healthcare apps developer 3D4Medical has been sold to publisher Elsevier in a deal that will deliver a payout of close to €28 million to its Irish founders. No overall price has been disclosed for the transaction but industry sources indicated that Elsevier had paid some $50.6 million (€45.9 million)for the Irish company. John Moore, who founded the business in 2004, will earn over €24 million from the sale of the award-winning 3D medical technology company in which he has a 54 per cent stake. Life sciences group Malin, which paid $16 million for a 38 per cent stake in mid-2015, said it received over €17 million for its shareholding. Mr Moore said he intends to stay with 3D4Medical while also continuing to pursue other business interest.

Source: The Irish Times November 27, 2019 07:40 UTC