CareFusion, a global medical technology company, has completed the acquisition of the Vital Signs division from GE Healthcare in the US, China and certain other geographies.
CareFusion agreed to buy Vital Signs for $500m. In connection with this first closing, CareFusion paid GE Healthcare approximately $470m, funded through cash on hand.
The remaining $30m will be paid upon completion of the acquisition of the remaining international operations of Vital Signs, subject to regulatory review and customary closing conditions.
The acquisition will significantly expand CareFusion’s Specialty Disposables business by adding global scale and new products for anesthesiology, and help establish the company as a leader in the more than $3bn market for respiratory and anesthesia consumables.
CareFusion chairman and CEO Kieran Gallahue said the acquisition of Vital Signs doubles the size of company’s Specialty Disposables business and transforms it into an industry leader by adding global scale and a new call point in anesthesia.
"We are in a better position to serve customers in this large, global and growing market with a broader product portfolio and complementary expertise in respiratory and anesthesia care," Gallahue added.
According to the company, Vital Signs division has annual revenue of approximately $250m.
Image: PleurX drainage system Photo: courtesy of CareFusion Corporation.