Monday, June 18, 2007

Isonics Shops Life Sciences Division For $850,000

Isonics Corp., a manufacturer of materials and products for the homeland security and semiconductor markets, announced Monday that it has completed the sale of its Life Sciences division to an undisclosed buyer for $850,000. Isonics said it expects to record a gain on the transaction, noting that net proceeds—after retirement of related debt and sale expenses—will be approximately $700,000. Isonics also said it shopped its Life Sciences division as part of its plan to achieve operating profitability by focusing on core businesses. Isonics is headquartered in Golden, Colorado.