Analogic Corporation
04.03.2013 15:00
---------------------------------------------------------------------------
Transaction Accelerates Planned Expansion Into Point-of-Care Market
PEABODY, Mass., 2013-03-04 15:00 CET (GLOBE NEWSWIRE) --
Analogic Corporation (Nasdaq:ALOG), enabling the world's medical imaging and
aviation security technology, announced today that it has completed the
acquisition of Ultrasonix Medical Corporation for a purchase price of
approximately $83 million, subject to a final adjustment as provided in the
purchase agreement. The purchase is being funded by Analogic's available cash
balance. Ultrasonix is a supplier of advanced ultrasound systems for
point-of-care and general imaging applications with over 5,000 systems
installed worldwide. The company brings key ultrasound products, technology,
and sales channels that are complementary to Analogic's ultrasound business.
Analogic continues to expect that this business combination will be neutral to
diluted earnings per share in Analogic's fiscal year 2013, excluding purchase
accounting adjustments and transaction related costs, and will become accretive
in fiscal year 2014.
Jim Green, Analogic president and CEO, commented, 'Now that the acquisition is
complete, the combination of the Ultrasonix and BK Medical brands will make our
Global Ultrasound Group even stronger. With Ultrasonix's point-of-care and
general imaging products and established sales channel, we plan to accelerate
our expansion into the fast growing, $500 million point-of-care market, making
Analogic a preeminent supplier of procedure-driven, mobile ultrasound
solutions.'
'I am very pleased to welcome the Ultrasonix team to Analogic,' commented
Farley Peechatka, senior vice president and general manager of Analogic's
Global Ultrasound Business. 'We look forward to working with the strong team at
Ultrasonix to build a market leading business focused on key procedure-driven
markets in urology, surgery, anesthesia, and point-of-care applications such as
emergency and reproductive medicine. We are committed to a smooth integration
and look forward to delivering on the growth opportunities that result from
this business combination.'
Founded in 2000, Ultrasonix has a broad portfolio of mobile ultrasound products
with an established brand used primarily for point-of-care applications such as
emergency medicine, anesthesia, and reproductive medicine in developed markets,
and general imaging in emerging markets.
Forward-Looking Statements
Any statements about future expectations, plans, and prospects for the Company,
including statements containing the words ' believes,' ' anticipates,' '
plans,' ' expects,' and similar expressions, constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. Actual results may differ materially from those indicated by such
forward-looking statements as a result of various important factors, including
risks relating to product development and commercialization, limited demand for
the Company's products, risks associated with competition, uncertainties
associated with regulatory agency approvals, competitive pricing pressures,
downturns in the economy, the risk of potential intellectual property
litigation, and other factors discussed in our most recent quarterly report
filed with the Securities and Exchange Commission. In addition, the
forward-looking statements included in this presentation represent the
Company's views as of the date of this document. While the Company anticipates
that subsequent events and developments will cause the Company's views to
change, the Company specifically disclaims any obligation to update these
forward-looking statements. These forward-looking statements should not be
relied upon as representing the Company's views as of any later date.
About Analogic
Analogic (Nasdaq:ALOG) provides leading-edge healthcare and security technology
solutions to advance the practice of medicine and save lives. We are recognized
around the world for advanced imaging systems and technology that enable
computed tomography, ultrasound, digital mammography, and magnetic resonance
imaging (MRI), as well as automated threat detection for aviation security. Our
CT, MRI, digital mammography, and ultrasound transducer products are sold to
original equipment manufacturers (OEMs), providing state-of-the-art capability
and enabling them to enter new markets and expand their existing market
presence. Our market-leading BK Medical and Ultrasonix branded ultrasound
systems, used in procedure-driven markets such as urology, surgery, and
point-of-care, are sold to clinical end users through our direct sales force.
For over 40 years we've enabled customers to thrive, improving the health and
enhancing the safety of people around the world. Analogic is headquartered just
north of Boston, Massachusetts. For more information, visit www.analogic.com.
Analogic is a registered trademark of Analogic Corporation.
The globe logo is a trademark of Analogic Corporation.
CONTACT: Investor Contact:
Mark Namaroff
Director of Investor Relations
(978) 326-4058
investorrelations@analogic.com
Media Contact:
Lars Shaw
Vice President of Global Marketing
(408) 605-3901
lshaw@analogic.com
News Source: NASDAQ OMX
04.03.2013 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Analogic Corporation
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US0326572072
WKN:
End of Announcement DGAP News-Service
---------------------------------------------------------------------------
DGAP-News: Analogic Completes Acquisition of Ultrasonix
| Source: EQS Group AG