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news.US-based Natus Medical has completed its acquisition of Canada-based Excel-Tech, by way of a statutory plan of arrangement in Canada.
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Under the terms of the arrangement, Natus has acquired all of the outstanding common shares of Excel-Tech (Xltek) at a cash price of C$3.25 per share. The transaction is valued at approximately $63.5 million.
Jim Hawkins, president and CEO of Natus, said: “We are very pleased to have acquired Xltek, as it affirms our position as a market leader in neurology and brings Natus one step closer to achieving our stated goal of growing revenue to a $250 million annual run-rate by the end of 2008.”