In short
Back in March we covered the FDA clearance of CareFusion’s Viking On Nicolet® electrodiagnostic neuromuscular function testing device on our pages, here. Now the company has announced that it has entered into an agreement to sell the Nicolet business to Natus Medical Inc., for a cash purchase price of approximately $58 million.
Background
Since its spinoff from Cardinal Health in 2009, CareFusion has simplified its portfolio by divesting five non-strategic businesses and has completed four acquisitions to build scale, expand global reach and add adjacent technologies to existing businesses.
The Nicolet business employs more than 400 people worldwide and develops clinically differentiated neurodiagnostic and monitoring products, including a portfolio of electroencephalography (EEG) and electromyography (EMG) systems and related accessories, as well as vascular and obstetric doppler sensors and connectivity products. It generated sales of approximately $95 million in 2011.
Company comments
It works for CareFusion
“The decision to divest the Nicolet business is in line with our strategy to simplify and focus our operations and prioritize our investments to profitably grow over the long term,” said Kieran Gallahue, chairman and CEO of CareFusion. “We have a dedicated team in the Nicolet business that will have greater scale and access to broader market opportunities as part of Natus.”
It works for Natus
“The Nicolet acquisition will strengthen our existing neurology portfolio and provide us with new product categories,” said Jim Hawkins, CEO of Natus. “Combining our strong product portfolio and support expertise with that of CareFusion’s Nicolet business will allow us to bring additional value to our customers. Further, this acquisition will better position Natus in international markets, as over 50 percent of the CareFusion Nicolet business is in markets outside of the United States.”
Source: CareFusion Inc., PR Newswire
published: April 23, 2012 in: Mergers and Acquisitions, Neuro, News