Natus Medical buys Excel-Tech
This article was originally published in The Gray Sheet
Neurodiagnostics firm Natus Medical acquires Excel-Tech for $63.6 million, gaining the latter firm's electrodiagnostic systems and disposables for the detection, diagnosis and monitoring of neurologic disorders, including central and peripheral nervous system dysfunction, as well as sleep disorders. Announced Oct. 10, the deal bolsters Natus' neurology offerings and adds $33.4 million in annual sales, furthering Natus' goal of achieving annual sales of $250 million by the end of 2008, according to the firm. Natus' product offerings include systems for screening, detection, treatment, monitoring and tracking of neurological dysfunction, epilepsy, sleep disorders, hearing impairment and newborn care. Under the terms of the deal, Natus is paying $3.34 per share for Toronto-based Excel-Tech, a roughly 82% premium over its Oct. 9 closing price of $1.84. The deal will be immediately accretive to Natus earnings, excluding one-time charges
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