DivestmentAug 3, 2026, 01:46 PM
Richardson Electronics Divests Healthcare Business, Realigns Segments
AI Summary
Richardson Electronics, Ltd. completed the divestment of a substantial portion of its Healthcare business assets to DirectMed Imaging, LLC on January 24, 2025. Following this, the company entered into an exclusive 10-year global supply agreement with DirectMed for repaired Siemens CT X-ray tubes. Effective June 1, 2025, the company also realigned its operating segments from four to three: Power and Microwave Technologies (PMT), Green Energy Solutions (GES), and Canvys. The 10-K filing also details customer and supplier concentration risks, with one PMT customer accounting for 14% of fiscal 2026 net sales and two suppliers each exceeding 10% of the cost of sales.
Key Highlights
- Healthcare business assets sold to DirectMed Imaging, LLC on January 24, 2025.
- Entered into an exclusive 10-year global supply agreement with DirectMed for CT X-ray tubes.
- Operating segments realigned from four to three (PMT, GES, Canvys) effective June 1, 2025.
- International sales constituted 60% of consolidated net sales in fiscal 2026.
- One PMT customer accounted for 14% ($31.5 million) of consolidated net sales in fiscal 2026.
- Employed 429 individuals as of May 30, 2026, with 392 full-time and 37 part-time.
- Two suppliers each represented over 10% of total cost of sales in fiscal 2026.
- Auditor firm is BDO USA, P.C. located in Chicago, IL.
Price Impact
More from RELL