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Natus Medical Inc to Acquire Grass Technologies Product Group from Astro-Med Inc


Monday, 7 Jan 2013 08:30am EST 

Natus Medical Inc and Astro-Med Inc announced that the companies have entered into a definitive agreement for Natus to acquire the Grass Technologies Product Group from Astro-Med. The Grass Technologies Product Group includes clinically differentiated neurodiagnostic and monitoring products, including a portfolio of polysomnography (PSG) and electroencephalography (EEG) systems for both clinical and research use and related accessories and electrodes. The transaction is expected to close on January 31, 2013. Natus will fund the approximate $18.6 million cash purchase price with existing cash and borrowings under its credit facility. Astro-Med will retain its Grass manufacturing facility and the companies have entered into an agreement whereby Astro-Med will continue to manufacture the Grass products and provide other transition services for a period of time, after which Natus will acquire any remaining inventory. 

Company Quote

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