Analogic has signed an agreement to acquire privately held Ultrasonix for $83 million in cash.
Vancouver, British Columbia-based Ultrasonix develops ultrasound systems for point-of-care and general imaging applications. The purchase price paid to Ultrasonix shareholders will be funded out of Analogic’s available cash balance.
The transaction is expected to close in late February, according to Peabody, Mass.-based Analogic. The company expects the business combination will be neutral to earnings per share in fiscal year 2013, excluding purchase accounting adjustments and transaction-related costs, but will become accretive in fiscal year 2014.
The transaction brings together BK Medical and Ultrasonix, producers of mobile, procedure-driven, guided ultrasound technology. Founded in 2000, Ultrasonix offers a portfolio of mobile ultrasound products used primarily for point-of-care applications such as emergency medicine and anesthesia in developed markets and general imaging in emerging markets. The audited revenue of Ultrasonix for the calendar year that ended Dec. 31, 2011, was CAD34.5 million, with positive operating income.