Getinge (PINK:GETI B) said it plans to offer roughly $189 million to acquire Pulsion Medical Systems, a German cardiac monitoring company.
The Swedish medical device company said it plans to issue a cash offer of €16.90 (~$22.89) per share for Pulsion, which makes the PiCCO line of cardiac output monitors. The total value of the deal is €139.3 million, or about $188.7 million, according to a press release.
Pulsion, which employs about 130 workers worldwide, put up sales of €34.6 million (~$YY) last year in the U.S., Germany, Austria, Switzerland, U.K., Benelux, France, Poland, Spain, Turkey, Mexico and Australia, according to the release.
"Through the acquisition, Pulsion, which is predominantly strong in Europe, will gain access to a significantly larger sales footprint. Pulsion’s existing sales force has vast expertise in commercializing advanced monitoring solutions and related catheters. It will also be an important reinforcement in the commercial roll out of Getinge’s recently introduced solution for continuous glucose and lactate monitoring, Eirus. Getinge believes there are significant market opportunities in developing a broader portfolio of advanced monitoring solutions with unique, recurring revenue streams," according to the release.
The deal is expected to close during the 1st quarter of 2014, Getinge said.
