Getinge scoops up Datascope for nearly $870M

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Getinge has entered into a definitive agreement to acquire Datascope, a cardiac device company, for all of the outstanding shares of its common stock for $53.00 per share, which will total approximately $865 million.

Datascope said that the pending transaction is subject to customary conditions, including the tender of a majority of the outstanding shares of its common stock into the tender offer, regulatory approvals and the absence of a material adverse change with respect to the company.

Lawrence Saper, the Chairman and CEO of Datascope and an 18 percent stockholder, has entered into a voting and tender agreement in connection with this transaction. The Datascope board has unanimously recommended the offer, the Stockholm, Sweden-based Getinge reported.

“Datascope's businesses meaningfully expand Getinge's cardiovascular business worldwide, reinforcing the company's focus on both cardiac surgery and vascular interventions,” Getinge said.

In May, Datascope sold its patient monitoring business to Mindray Medical International Limited for $202 million in cash, funded through Mindray's internal cash and planned third-party borrowings. In that deal, Datascope retained approximately $38 million of receivables generated by the patient monitoring business.

For the Getinge acquisition, Lehman Brothers acted as financial advisor to Datascope and Dechert acted as legal advisor.