SonoSite, the global provider of bedside and point-of-care ultrasound, has completed its acquisition of privately held VisualSonics, a Toronto-based company focused on ultra high-frequency micro-ultrasound technology, for $67.9m net of cash and debt on June 30, 2010.
Under the terms of the agreement, VisualSonics will become a wholly-owned subsidiary of SonoSite. The acquisition has been approved by the Shareholders of VisualSonics.
Kevin Goodwin, president and CEO of SonoSite, said: “This acquisition positions SonoSite for long-term growth in the pre-clinical and clinical point-of-care markets and enables the creation of potential breakthrough imaging products for both market spaces.
“With unmatched ultra high-frequency technology, which operates at five times the center frequency of a conventional ultrasound, VisualSonics’ micro-imaging technology has the potential to revolutionize clinical medicine and continue to transform pre-clinical research.”
Anil Amlani, president and CEO of VisualSonics, said: “We are pleased to finalize this agreement with SonoSite. SonoSite and VisualSonics share a passion for creating innovative products and driving new market opportunities.”