Midmark closed on the Versus Technology acquisition today after announcing the intent in April.
Here are five things to know about the acquisition:
1. Midmark is focused on medical, dental and veterinary equipment solutions while Versus Technology is a real-time locating system that uses location technology and rules-based automation designed for safety and efficiency in moving patients through their care.
2. The merger was unanimously approved and recommended to the Versus Board of Directors.
3. After the transaction closed, the initial cash distributions to shareholders will be around $0.35 per share with additional distributions over the next five years of up to $0.047 per share.
4. Versus shareholders met on April 29 and voted in favor of the acquisition.
5. Midmark leadership anticipates the acquisition will improve the company's leadership in the outpatient clinical workflows with the real-time locating system.