Analogic Corp. has announced it will acquire Ultrasonix Medical Corp. for $83 million in cash, according to a news release.
Ultrasonix, based in Vancouver, Canada, is a supplier of advanced ultrasound systems for point-of-care and general imaging applications.
"Ultrasonix brings key ultrasound technology and a direct distribution channel, complementary to our own," said Jim Green, Analogic president and CEO, in the release. "This acquisition is an important step in executing our overall growth strategy as we expand our direct ultrasound business into the fast growing adjacent point-of-care ultrasound market. Ultrasonix also enables expanded distribution into general imaging in emerging markets with advanced technology to address diagnostic procedures and applications. This acquisition provides significant revenue and operational synergies as well as provides scale to our existing ultrasound business accelerating our growth in the future."
The transaction is expected to close in late February.
Analogic Corp. is headquartered in Peabody, Mass.
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