SonoSite Acquires CardioDynamics for $12.3 Million
August 17, 2009 - SonoSite Inc., a specialist in hand-carried ultrasound for the point-of-care, announced that on Aug. 14 it completed the acquisition of CardioDynamics International Corp., a leader in impedance cardiography (ICG) for noninvasive hemodynamic assessment.
Under the terms of the agreement, CardioDynamics will become a wholly-owned subsidiary of SonoSite Inc. and CardioDynamics shareholders will receive $1.35 per share in cash. The aggregate transaction is valued at approximately $10 million, or $12.3 million net of cash and debt. Shareholders of CardioDynamics approved the acquisition Aug. 11.
This acquisition offers Sonosite an established sales channel and a franchise in cardiovascular disease management.
CardioDynamics’ ICG product line provides noninvasive assessment of cardiac output and other hemodynamic parameters in the physician’s office, outpatient clinic or hospital. The company’s latest generation product, the BioZ Dx system, integrates ICG with electrocardiography (ECG), providing the ability to assess both mechanical and electrical cardiovascular function.
For more information: www.sonosite.com