Monday, June 20, 2011

GoIndustry DoveBid goes for a Medical

The GoIndustry DoveBid UK valuation team carried out an interesting valuation in March.  One of our major corporate clients required a balance sheet valuation of a 2008 clinical imaging facility with a major UK hospital.    The facility uses the latest technologies in magnetic resonance imaging (MRI) and positron emission tomography (PET). Research focuses on cancer, stroke, neurological and psychiatric diseases.  The facility is GxP compliant for scanning of the spread and distribution of cancers and tumours.

The assets include:

  • 2 Siemens Cyclotron particle accelerators and a Nuclide delivery system;
  •  Hot cells, laboratories and laboratory equipment for the scale production of research drugs;
  • 2 Siemens PET scanners, 2 Siemens MRI scanners, Siemens Invivo scanner and a range of screening and other laboratory and ward assets for the scanning of drug test volunteers;
There were a number of future decontamination issues; the 2 Siemens Cyclotron particle accelerators and the Nuclide delivery system produce a level of radiation in use which contaminates both the machinery and the equipment.  There is also the liability for the eventual decontamination and removal of the assets at the end of their life.

The facility operates under the Radioactive Substances Act (RSA93); under which the operator is required to produce a Decommission Plan for the cyclotron suites and that plan is updated at 5 yearly intervals.  This was one of the first requirements of the sort in the UK in the non-nuclear sector and the first  plan was a prototype report and full of assumptions.  After consultation, we calculated the cost of decommissioning at a significant cost, just less than £1million.

All in all, a complex job with some fascinating assets and an interesting outcome.

For more information on the services GoIndustry DoveBid please see http://www.go-dove.com/

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