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news.Natus Medical has entered into a definitive agreement to acquire privately held SonaMed, a manufacturer and marketer of the clarity screener and associated disposable supplies that aid medical practitioners in screening for hearing loss in newborns.
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Natus has agreed to acquire all outstanding shares of SonaMed capital stock in a cash transaction. The agreement has received the approval of the boards of directors of both companies and is subject to the approval of SonaMed stockholders and customary closing conditions. Certain stockholders of SonaMed have entered into voting agreements by which they have agreed to vote more than 50% of the outstanding SonaMed capital stock in favor of the transaction. The parties expect the acquisition to be completed in approximately 40 days.
Jim Hawkins, president and CEO of Natus, said: “We believe SonaMed is a very well run company that has been consistently profitable for many years and we expect this acquisition to be accretive to earnings per share in the first full quarter of ownership.”