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news.CardioDynamics' shareholders to receive $1.35 per share in cash
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SonoSite has acquired CardioDynamics. Under the terms of the agreement, CardioDynamics will become a wholly-owned subsidiary of SonoSite and CardioDynamics’ shareholders will receive $1.35 per share in cash.
Reportedly, the aggregate transaction is valued at approximately $10m, or $12.3m net of cash and debt. Shareholders of CardioDynamics approved the acquisition on August 11, 2009.
Kevin Goodwin, president and CEO of SonoSite, said: “This acquisition brings us an established sales channel and a franchise in cardiovascular disease management with outstanding long term growth and healthcare cost reduction potential. The need to detect and treat cardiovascular disease has never been greater, and CardioDynamics’ products and technology will be the platform we will build upon to grow in the physician office segment, as well as expand our presence in the large market for cardiovascular disease management.”