US-based medical device company Natus has agreed with GN Store Nord to acquire GN Otometrics from GN Hearing for $145m.

Otometrics manufactures computer-based audiological, otoneurologic and vestibular instrumentation and sound rooms for hearing and balance care professionals worldwide.

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Generating annual revenue of about $110m, the company’s portfolio is characterised with sophisticated design technology catering to the hearing and balance assessment markets. Its global brands are Aurical, ICS and Madsen.

“The agreement between Natus and GN Hearing will see the companies collaborate on future technology, product development and commercialisation.”

Natus president and CEO Jim Hawkins said: “Otometrics has several leading brands and has introduced many industry firsts.

“With the addition of Otometrics, we anticipate Natus revenue in 2017 will reach $500m, a major milestone for the company.  We expect Otometrics to be accretive to our 2017 earnings with a non-GAAP contribution operating margin goal for the year of 10% and a 2018 goal of 20%.”

The agreement between Natus and GN Hearing will see the companies collaborate on future technology, product development and commercialisation.

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Natus will also assume rights to fully commercialise the complete digital ear scanning solution, OTOSCAN, sharing future royalties with GN Hearing.

OTOSCAN has been designed to offer an easy way of custom hearing care to clients. It is intuitive and enables quick and safe earscans while ensuring accuracy.

In order to fund the acquisition, Natus has entered into a $150m revolving credit agreement with JP Morgan Chase and Citibank, and is planning to use offshore cash and proceeds from this credit line to fund the potential acquisition.

The transaction is expected to be completed at the end of this year.