Miami, Fla.-based Sanomedics said today it approved the sale of its subsidiary Thermomedics to Positive ID and that it is acquiring orthopedic retailer The Brace Shop.
Thermomedics produces the Caregiver non-contact clinical-grade infrared thermometer, which is FDA cleared for measuring forehead temperature in adults, children and infants.
The sale of Thermodynamics could bring in as much as $2 million dollars, according to the company.
Last week, Positive ID announced details of the sale, saying it acquired the non-contact thermometer manufacturer for $750,000 up front and another possible $750,000 in 2016 and 2017 dependent upon reaching certain milestones.
Sanomedics said it is paying $250,000 in cash and issuing preferred stock to the owner of the Brace Shop for the purchase.
The Brace Shop sells orthopedic braces, physical therapy and rehabilitation eqiupment and reported annual revenues greater than $7 million, Sanomedics said.
Both deals are expected to close in the 4th quarter of 2015, Sanomedics said.