CAE Healthcare acquires METI for $130M

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CAE Healthcare, a developer of medical education simulators and software based in Montreal, has purchased Medical Education Technologies (METI), which previously competed in the same market space, for $130 million.

“With this acquisition, our new core markets segment, comprised of CAE Healthcare and CAE Mining, achieves greater critical mass. We expect this segment to achieve more than $121.1 million of revenue and to be profitable in fiscal 2013,” said Marc Parent, CAE president and CEO, in a statement.

Michael Bernstein, CEO of the Sarasota, Fla.-based METI, will transition to president of CAE Healthcare.