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UPDATE 1-Toshiba Medical to buy Vital Images for $273 mln
April 27, 2011 / 8:44 PM / in 7 years

UPDATE 1-Toshiba Medical to buy Vital Images for $273 mln

* To pay $18.75 per Vital Images share

* Deal to close by Q3 (Follows alerts)

APRIL 27 - Toshiba Medical Systems Co, a unit of Toshiba Corp , will buy Vital Images Inc for $273 million in cash to boost its business of providing imaging informatics to healthcare professionals, the companies said.

Vital Images’ shareholders will receive $18.75 in cash for each share held.

The deal is expected to close by the third quarter.

Vital Images provides visualization and analysis software for physicians and healthcare specialists.

Morgan Stanley & Co acted as financial adviser to Toshiba Medical while Vital Images was advised by Piper Jaffray & Co.

Shares of Vital Images closed at $14.18 on Wednesday on Nasdaq. (Reporting by Kavyanjali Kaushik in Bangalore; Editing by Gopakumar Warrier)

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