Natus Medical to acquire certain assets from BrainZ Instruments

Under the purchase agreement, Natus will acquire essentially all the trading assets of BrainZ for a cash price of NZD$1.3 million, including the BRM2 and BRM3 monitoring devices, RecogniZe acquisition software, associated intellectual property, and branding.

Natus will also acquire accounts receivable and inventory, and assume accounts payable and certain other operating liabilities associated with the products, including obligations of BrainZ under various distribution and customer agreements, and obligations in respect of product warranties, product support, and maintenance obligations.

Directors of BrainZ have unanimously recommended the acquisition, which is subject to the approval of BrainZ shareholders. Natus expects to complete the acquisition in early November 2008.

Jim Hawkins, president and CEO of Natus, said: “This acquisition expands our product offering in the newborn brain injury market segment of our pediatric business. We are very excited about the opportunities in this developing field and we believe we can now accelerate the adoption of newborn brain monitoring as a standard of care in the neonatal intensive care unit.”