ConMed (NSDQ:CNMD) said it’s closed its 27¢-per-share tender offer for Viking Systems (OTC:VKNG), leaving it with about 84% of shares in the medical imaging maker.

The 27¢-per-share price represents a 42% premium over VKNG’s 19¢ closing price August 13, when the $22.5 million deal was announced. The news sent propelled VKNG shares up nearly 39% the next day, to 26.3¢.

Although the tender offer began August 27, as of August 13 about 43% of VKNG shares had already been tendered. The merger is expected to close during the 4th quarter.

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ConMed said about 64.4 million shares were tendered as of midnight Sept. 21, according to a press release.

"ConMed has accepted for payment all shares validly tendered and not withdrawn and will promptly pay for such shares," according to the release.

ConMed said it expects to transfer its 2-D surgical video research and marketing team from Santa Barbara, Calif., to Viking’s Westborough, Mass.-based operation.

Viking reported lower 2nd-quarter sales but reduced losses for the 3 months ended June 30. Sales were $2.2 million during the quarter, down 13.6% compared with Q2 2011, but net losses were also down 3.4%, to $890,000.

VKNG shares closed at 26.8¢ yesterday. CNMD shares were up half a percent to $28.52 apiece as of about 10:30 this morning.

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