BUFORD, Ga.--(BUSINESS WIRE)--April 26, 2005--Theragenics Corporation(R) (NYSE: TGX), the Georgia-based manufacturer and marketer of TheraSeed(R), the premier palladium-103 cancer treatment device, today announced that it has entered into an agreement to acquire CP Medical, a medical device company. CP Medical is a manufacturer and supplier of innovative sutures, cardiac pacing cables, brachytherapy needles/spacers, and other related medical products sold in the professional surgical and veterinary fields. The transaction establishes new growth platforms for Theragenics(TM) within the field of medical devices and also serves to diversify Theragenics'(TM) product offerings within its core brachytherapy business. CP Medical's brachytherapy products enhance Theragenics'(TM) position as a fully integrated manufacturer, supplier, and distributor of brachytherapy products. Theragenics(TM) expects this acquisition to be accretive to net income in 2005.

"The acquisition of CP Medical represents a significant step in Theragenics'(TM) stated objective of diversifying our product offerings and creating new growth platforms," stated M. Christine Jacobs, Chairman, CEO and President of Theragenics Corporation(R). "We look forward to participating and sharing the vision, enthusiasm and growth objectives of CP Medical's President, Pat Ferguson, and his outstanding employees. CP Medical has demonstrated an impressive ability to identify underserved markets and rapidly develop products to address and grow revenues within those markets. Pat and his team have opportunities, ideas and projects that, together with Theragenics'(TM) resources, hold promise of future success. Theragenics(TM) and CP Medical both share unique skill sets and have a history of successful innovation and execution within the complex medical device field. We believe that the addition of CP Medical will provide exciting channels for growth."

Under the terms of the agreement, at closing Theragenics(TM) will pay cash of approximately $19,150,000 and issue approximately 1,885,370 shares valued at approximately $6,250,000 as calculated over a 20-day period from March 28, 2005 through April 22, 2005 for a total purchase price of approximately $25,400,000. Theragenics(TM) will finance the cash portion of the purchase price from cash on hand. CP Medical has no significant debt on its books. The consummation of the transaction is subject to customary closing conditions.

CP Medical, headquartered in Portland, Oregon, is FDA registered and 13485 certified. CP Medical distinguishes itself by manufacturing quality medical devices, with an intense focus on customer service. CP Medical partners with its customers to develop custom products and delivers the personal service necessary to move these products from design to delivery. CP's core business is in wound closure, but of late the company has expanded into additional medical devices.

CP Medical's President, Pat Ferguson commented, "We are pleased to join forces with Theragenics(TM). Theragenics'(TM) financial strength and experience should help us accelerate our growth within our markets. We believe that by combining our businesses, we will open up even greater opportunities for growth."

Christine Jacobs of Theragenics(TM) concluded the remarks by noting, "We looked at many, many companies before finding CP Medical. We believe this is a fine company, which will fit nicely with Theragenics'(TM) strategic goals. We look forward to enhancing our brachytherapy offering, strengthening our competitive standing, and expanding into new markets with new products. By joining together, we believe we have significantly enhanced both Companies' long-term growth potential."

Theragenics Corporation(R) is committed to being a leading provider of brachytherapy treatment devices for prostate cancer and other degenerative disease states. The Company is the manufacturer and marketer of the palladium-103 device TheraSeed(R) and I-Seed, an iodine-125 based device. Both devices are used in the treatment of localized prostate cancer in one-time, minimally invasive procedures. Theragenics(TM) is the world's largest producer of palladium-103 and is involved in research and development utilizing palladium-103 and other isotopes for the treatment of a wide variety of diseases, including macular degeneration. For additional information on the Company, call Theragenics'(TM) Investor Relations Department at (800) 998-8479. The Company's common stock is traded on the New York Stock Exchange under the symbol TGX. Additional information can be found on the Company website: www.theragenics.com.

This release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding the contribution of CP Medical to Theragenics'(TM) sales, accretive impact on net income, and future growth. The accuracy of forward-looking statements is necessarily subject to risks and uncertainties, including, without limitation, successful integration of CP Medical into the Theragenics'(TM) organization, capitalization on opportunities for growth within the CP Medical business plan, ability to recognize value from areas of shared expertise, and anticipated positive results in general. Actual results may be affected by, among other things, risks and uncertainties related to competition within the medical device industry, integration risks, development and growth of new applications within the markets for wound closure, brachytherapy and more broadly, medical devices, competition from other companies within the wound closure and medical device markets, competition from other methods of treatment, new product and process development cycles, potential costs and delays associated with expansion and executing growth strategies, potential costs and delays in production optimization, effectiveness and execution of marketing and sales programs, changes in pricing of raw materials or changes in relationships with key suppliers, third-party (including CMS) reimbursement, Congressional action affecting Medicare reimbursement, physician training, third-party distribution agreements, and other factors set forth from time to time in the Company's Securities and Exchange Commission filings.

All forward looking statements and cautionary statements included in this document are made as of the date hereby based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward looking statement or cautionary statement.

SOURCE: Theragenics Corporation
Theragenics, Buford
Bruce W. Smith
or
Lisa Rassel, 800-998-8479 or 770-271-0233
www.theragenics.com

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