Product offerings include computerized neurodiagnostic systems for audiology, neurology, polysomnography, and neonatology, as well as newborn care products such as hearing screening systems, phototherapy devices for the treatment of newborn jaundice, head-cooling products for the treatment of brain injury in newborns, incubators to control the newborn’s environment, and software systems for managing and tracking disorders and diseases for public health laboratories.Īstro-Med, Inc. Natus is a leading provider of healthcare products used for the screening, detection, treatment, monitoring and tracking of common medical ailments in newborn care, hearing impairment, neurological dysfunction, epilepsy, sleep disorders, and balance and mobility disorders. Products used in research, which represented 14% of Grass revenue for the year ended January 31, 2012, are sold to university researchers, pharmaceutical companies, and hospitals. Approximately one third of Grass revenue is attributable to consumables and service, with sales from international markets contributing to 38% of revenue. The Grass Instrument Company was founded in 1935 by Albert Grass, who pioneered the development and production of the first EEG machines used in medical applications. We know that Natus, with its worldwide strength and focus in neurology, is an ideal place for Grass to flourish.” “We have been working on several unique opportunities in these two segments and as a result, we have not been able to devote the resources needed to continue the growth of Grass. Pizzuti, Chief Executive Officer of Astro-Med. “After completing a strategic review of our businesses we have determined that it is in the best interest of our shareholders to focus on our fast growing Quick Label Systems and Test & Measurement business segments,” said Everett V. This acquisition will continue to allow us to bring additional value to customers.”
“The Grass acquisition expands our presence into certain international markets, adds to our disposable product offerings, and provides Natus an entry into the research segment of the Neurodiagnostic market.
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“Grass Technologies has been consistently profitable and we expect Grass to be accretive to our earnings in our first full quarter of ownership and for the full year 2013,” said Jim Hawkins, Chief Executive Officer of Natus. Astro-Med will retain its Grass manufacturing facility and the companies have entered into an agreement whereby Astro-Med will continue to manufacture the Grass products and provide other transition services for a period of time, after which Natus will acquire any remaining inventory. Astro-Med reported revenue from the Grass segment of $18.5 million for the fiscal year ended January 31, 2012. Natus will fund the approximate $18.6 million cash purchase price with existing cash and borrowings under its credit facility. The transaction is expected to close on January 31, 2013. The Grass Technologies Product Group includes clinically differentiated neurodiagnostic and monitoring products, including a portfolio of polysomnography (PSG) and electroencephalography (EEG) systems for both clinical and research use and related accessories and proprietary electrodes. (ALOT) today announced that the companies have entered into a definitive agreement for Natus to acquire the Grass Technologies Product Group from Astro-Med.
Natus Medical Incorporated (BABY) and Astro-Med, Inc. Natus to Acquire Grass Technologies Product Group from Astro-Med
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