Natus is engaged in designing, manufacturing and distributing medical device solutions for screening, diagnosis, and treatment of the brain, neural pathways, and eight sensory nervous systems disorders
France-based investment firm ArchiMed has completed its previously announced acquisition of US-based medical devices maker Natus Medical for a total consideration of $1.2bn.
ArchiMed is exclusively focused on the healthcare industry and has completed the acquisition through its MED Platform II fund, which started fundraising in January this year.
In April, the two companies entered into a definitive agreement for the transaction.
Under the terms of the acquisition, Natus shareholders are eligible to receive $33.50 in cash for each share of Natus common stock held.
As part of the transaction, Natus chief commercial officer Austin F Noll III was promoted as president, who has been serving the company for 10 years.
ArchiMed partner Justin Bateman said: “ArchiMed’s mix of operational, medical, scientific and financial expertise will help us continue our mission to serve our customers as we further integrate, internationalize and grow our business.
“Together with management, we’ll significantly expand the reach and breadth of Natus’ market-leading products, reinforce and focus research & development, and pursue acquisitions of complementary businesses.”
Established in 1987, Natus is a provider of medical device solutions for screening, diagnosis, and treatment of the brain, neural pathways, and eight sensory nervous systems disorders.
With subsidiaries in Canada, Denmark, the UK, Germany, France, Spain, Australia and New Zealand, the company employs nearly 1,400 people worldwide.
The company offers over 25 product lines, used for epilepsy, sleep disorders, sensory disorders, neuromuscular diseases and neuro monitoring during procedures.
Stifel served as financial advisor and Davis Polk & Wardwell as legal advisor to Natus, while Jefferies served as financial advisor and Latham & Watkins as legal advisor to ArchiMed on the transaction.
Natus chief executive officer Thomas J Sullivan said: “ArchiMed’s mix of operational, medical, scientific and financial expertise will help us continue our mission to serve our customers as we internationalize and grow our business.
“Our Natus Teammates are excited to advance the standard of care and improve outcomes and quality of life for patients affected by disorders of the brain, neural pathways, and eight sensory nervous systems as a part of ArchiMed.”