Analogic Corp. (ALOG), the maker of medical-technology and aviation-security devices, will cut about 140 jobs as a part of restructuring plan to streamline its business.
Peabody, Massachusetts-based Analogic plans to streamline its business and realize synergies following the acquisition of Ultrasonix Medical Corp.
The company plans to close an ultrasound transducer operation in Englewood, Colorado, and is also in the process of consolidating manufacturing and certain support functions currently conducted at the Ultrasonix facility in Vancouver, Canada. The activities will impact about 140 employees worldwide, principally in Englewood, Colorado and Vancouver, Canada.
Analogic anticipates to complete the restructuring by 2014-end and expects charges of about $5 million. Nevertheless, the restructuring is expected save $6 million annually, a portion of which the company expects beginning in 2014.
Chief Executive Jim Green said, "The cost savings from these activities will enable ongoing investment in our advanced technologies while continuing to support our stated multi-year operating margin goals."
In early January, Analogic agreed to buy Vancouver, Canada-based, privately held Ultrasonix Medical for $83 million in cash. Ultrasonix is a supplier of ultrasound systems for point-of-care and general imaging applications.
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