BSD Medical Corp. to sell its holdings in TherMatrx

Salt Lake-based BSD Medical Corp. said Wednesday that American Medical Systems Holdings Inc. has agreed to acquire TherMatrx for $40 million in cash.

The sale includes all of BSD's holdings in TherMatrx.

BSD's initial cash payment at the closing is expected to be about $9 million. Contingent payments to TherMatrx shareholders will be four times quarterly sales of TherMatrx products through the six quarters ending December 2005. BSD will begin to receive quarterly contingent payments when the accumulated value of four times quarterly sales has satisfied and exceeded the initial $40 million non-refundable payment. The maximum to be paid for TherMatrx is $250 million.