Natus acquires CareFusion's Nicolet neurodiagnostic business

Natus Medical Incorporated (Nasdaq:BABY) today announced that it has completed the acquisition of the Nicolet neurodiagnostic business from CareFusion (NYSE: CFN) that was announced on April 23, 2012. Based in Middleton, Wis., the Nicolet business employs more than 400 people worldwide and generated sales of approximately $95 million in 2011.

“Further, we expect this acquisition to be marginally accretive to non-GAAP earnings in the fourth quarter of this year and to significantly improve our profitability in 2013. Integration activities should be substantially completed by the end of 2012”

"The Nicolet acquisition strengthens our leadership position in neurodiagnostic and monitoring products. The Nicolet portfolio of electroencephalography (EEG) and electromyography (EMG) systems and related accessories, as well as vascular and obstetric Doppler sensors and connectivity products, will allow us to bring additional value to our customers as well as adding to our customer base around the world," said Jim Hawkins, Chief Executive Officer of Natus.

"Further, we expect this acquisition to be marginally accretive to non-GAAP earnings in the fourth quarter of this year and to significantly improve our profitability in 2013. Integration activities should be substantially completed by the end of 2012," added Hawkins.

Natus funded the approximate $58 million cash purchase price with existing cash and borrowings under its credit facility.

Source:

 Natus Medical

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