Analogic Corp. (ALOG) announced the completion of the Ultrasonix Medical Corporation acquisition for a purchase price of about $83 million, subject to a final adjustment as provided in the purchase agreement. The purchase is being funded by Analogic's available cash balance.
Commenting on Ultrasonix, Analogic said it is a supplier of advanced ultrasound systems for point-of-care and general imaging applications with over 5,000 systems installed worldwide. The company brings key ultrasound products, technology, and sales channels that are complementary to Analogic's ultrasound business.
The company said it continues to expect that this business combination will be neutral to diluted earnings per share in Analogic's fiscal year 2013, excluding purchase accounting adjustments and transaction related costs, and will become accretive in fiscal year 2014.
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