Siemens buys ultrasound maker

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Siemens Healthcare has entered into a definitive agreement to acquire substantially all of the assets of Penrith, a Plymouth Meeting, Pa.-based manufacturer of ultrasound imaging systems. Terms of the agreement were not disclosed.

Penrith Corporation manufactures and distributes a miniaturized ultrasound imaging system and nerve stimulation system. Through this acquisition, Siemens will offer new diagnostic capabilities. The deal is expected to close in September.

Upon closing of the transaction, Michael G. Cannon, president of Penrith, will become Siemens Ultrasound’s vice president and general manager of point-of-care solutions.