An affiliate of ArchiMed Group has agreed to acquire Natus Medical in a deal valued at approximately $1.2bn.
Under the deal, Natus shareholders will receive $33.50 in cash for each of the company’s shares.
Natus provides healthcare products and services which are used to detect, screen, monitor, treat, and track common medical ailments such as epilepsy, new-born care, sleep disorders, neurological dysfunction, hearing impairment, and balance and mobility disorders.
The company also offers advanced software, hardware, algorithms, and consumables which provide stimulus and acquire and monitor physiological signals, as well as capture the response of the patient’s body.
Natus chairman Joshua Levine said: “The sale of Natus to ArchiMed will provide our shareholders with immediate and substantial cash value, as well as a compelling premium, and the board has unanimously agreed that this transaction is in the best interests of our shareholders.”
The transaction, subject to customary closing conditions, including regulatory and Natus shareholders’ approvals, is anticipated to be completed in the third quarter of this year.
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By GlobalDataNatus will become a private company and its shares will no longer be listed on any public market after the completion of the acquisition.
Natus president and CEO Thomas Sullivan said: “Our nearly 1,400 Natus teammates remain committed to advance the standard of care and improve outcomes and quality of life for patients affected by disorders of the brain, neural pathways, and eight sensory nervous systems.
“ArchiMed’s mix of operational, medical, scientific, and financial expertise will help us continue our mission to serve our customers while delivering immediate value to shareholders.”
For the transaction, Davis Polk & Wardwell is acting as legal advisor while Stifel is serving as a financial advisor to Natus.