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By Sam Boughedda
Investing.com -- Natus Medical Incorporated (NASDAQ:NTUS) announced on Monday that it will be acquired by an affiliate of ArchiMed Group.
The company will pay approximately $1.2 billion for Natus, a provider of medical device solutions. Natus shareholders will receive $33.50 in cash per share, representing a 29% premium compared to the closing price of the stock on April 14.
"ArchiMed’s mix of operational, medical, scientific and financial expertise will help us continue our mission to serve our customers while delivering immediate value to shareholders," said Thomas Sullivan, President and Chief Executive Officer of Natus Medical.
The transaction is expected to be completed in the third quarter of 2022, at which point Natus will become a private company. In addition, the deal allows Natus to solicit proposals from third parties for 30 days, until May 17.
Natus also posted its preliminary first-quarter financial results, reporting a 4.3% rise in revenue to $119.8 million.
The company's stock jumped 29% following the acquisition announcement.
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