Investing.com - Natus Medical Incorporated's (NASDAQ:BABY) shares rallied Monday after the company signed an agreement to purchase certain neurosurgery assets for $47.5 million in cash from Integra LifeSciences Holdings.
Natus, a provider of newborn care and neurology healthcare products and services, will acquire the global Camino ICP monitoring product line, including the San Diego-based manufacturing facility, and the U.S. rights to Integra's fixed pressure shunts, Codman's DURAFORM dural graft implant, standard EVD catheters and CSF collection systems. Natus will fund its deal with cash on hand and borrowings under its credit facility.
Integra is divesting the assets to gain the Federal Trade Commission's stamp of approval on its proposed acquisition of Johnson & Johnson (NYSE:JNJ)'s Codman Neurosurgery business.
The transaction should close in October. Natus shares were recently up 8.8%