DGAP-News: Analogic Signs Agreement to Acquire Ultrasonix Medical Corporation, Supplier of Advanced Ultrasound Solutions
(firmenpresse) - Analogic Corporation
08.01.2013 15:01
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Accelerates Penetration Into Fast Growing Point-of-Care Market
PEABODY, Mass., 2013-01-08 15:00 CET (GLOBE NEWSWIRE) --
Analogic Corporation (Nasdaq:ALOG), enabling the world's medical imaging and
aviation security technology, announced today that it has signed an agreement
to acquire privately held Ultrasonix Medical Corporation based in Vancouver,
Canada for $83 million in cash. Ultrasonix is a supplier of advanced ultrasound
systems for point-of-care and general imaging applications with over 5,000
systems installed worldwide. The purchase price paid to Ultrasonix shareholders
will be funded out of Analogic's available cash balance. The transaction is
expected to close in late February. Analogic expects that this business
combination will be neutral to EPS in Analogic's fiscal year 2013, excluding
purchase accounting adjustments and transaction related costs, but will become
accretive in fiscal year 2014. Further information on this transaction can be
found on supplemental presentation slides by clicking here or at
http://investor.analogic.com.
Jim Green, Analogic president and CEO, commented, 'Ultrasonix brings key
ultrasound technology and a direct distribution channel, complementary to our
own. This acquisition is an important step in executing our overall growth
strategy as we expand our direct ultrasound business into the fast growing
adjacent point-of-care ultrasound market. Ultrasonix also enables expanded
distribution into general imaging in emerging markets with advanced technology
to address diagnostic procedures and applications. This acquisition provides
significant revenue and operational synergies as well as provides scale to our
existing ultrasound business accelerating our growth in the future.'
Green added, 'In addition to all that Ultrasonix brings to us, Analogic brings
advanced technical prowess and expanded sales channel access to the Ultrasonix
portfolio.'
The transaction brings together BK Medical and Ultrasonix, two of the world's
leading producers of mobile, procedure-driven, guided ultrasound technology.
Founded in 2000, Ultrasonix has a broad portfolio of mobile ultrasound products
with an established brand used primarily for point-of-care applications such as
emergency medicine and anesthesia in developed markets and general imaging in
emerging markets. Ultrasonix's audited revenue for the calendar year ended
December 31, 2011 was 34.5 million Canadian dollars, with positive operating
income.
Excluding the Ultrasonix acquisition, the Company confirmed its outlook for FY
2013, expecting upper single-digit organic revenue growth with 100 basis points
operating margin improvement over fiscal 2012.
Upcoming Investor Conferences
Analogic management will be presenting at two upcoming webcasted investor
conferences in January to discuss Analogic's strategy and elaborate further on
the acquisition of Ultrasonix. Jim Green will speak at the J.P. Morgan
Healthcare Conference on Thursday, January 10, at the Westin Saint Francis
Hotel in San Francisco. The 25-minute presentation and 25-minute Q&A session
are scheduled to begin at 10:30 a.m. PST. Jim will also speak at the Needham
Growth Conference on Tuesday, January 15, at the New York Palace Hotel in New
York City. The 20-minute presentation and 20-minute Q&A session are scheduled
to begin at 2:50 p.m. ET. Both the J.P. Morgan and Needham conference
presentations will be webcast live and can be accessed via our website at
http://investor.analogic.com.
Forward-Looking Statements
Any statements about future expectations, plans, and prospects for the Company,
including statements containing the words ' believes,' ' anticipates,' '
plans,' ' expects,' and similar expressions, constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. Actual results may differ materially from those indicated by such
forward-looking statements as a result of various important factors, including
risks relating to product development and commercialization, limited demand for
the Company's products, risks associated with competition, uncertainties
associated with regulatory agency approvals, competitive pricing pressures,
downturns in the economy, the risk of potential intellectual property
litigation, and other factors discussed in our most recent quarterly report
filed with the Securities and Exchange Commission. In addition, the
forward-looking statements included in this presentation represent the
Company's views as of the date of this document. While the Company anticipates
that subsequent events and developments will cause the Company's views to
change, the Company specifically disclaims any obligation to update these
forward-looking statements. These forward-looking statements should not be
relied upon as representing the Company's views as of any later date.
About Analogic
Analogic (Nasdaq:ALOG) provides leading-edge healthcare and security technology
solutions to advance the practice of medicine and save lives. We are recognized
around the world for advanced imaging systems and technology that enable
computed tomography, ultrasound, digital mammography, and magnetic resonance
imaging (MRI), as well as automated threat detection for aviation security. Our
CT, MRI, digital mammography, and ultrasound transducer products are sold to
original equipment manufacturers (OEMs), providing state-of-the-art capability
and enabling them to enter new markets and expand their existing market
presence. Our market-leading BK Medical branded ultrasound systems, used in
procedure-driven markets such as urology, surgery, and anesthesia, are sold to
clinical end users through our direct sales force. For over 40 years we've
enabled customers to thrive, improving the health and enhancing the safety of
people around the world. Analogic is headquartered just north of Boston,
Massachusetts. For more information, visit www.analogic.com.
About Ultrasonix
Ultrasonix develops and manufactures diagnostic ultrasound imaging systems
designed to make ultrasound easy to use in more areas of patient care. The
company's customizable systems are built on an open software platform that
enables remote service and easy updates to keep current with advancements in
imaging technology. Founded in 2000, Ultrasonix is headquartered in Richmond,
British Columbia, Canada. www.ultrasonix.com.
Analogic is a registered trademark of Analogic Corporation.
The globe logo is a trademark of Analogic Corporation.
CONTACT: Investor Contact:
Mark Namaroff
Director of Investor Relations
(978) 326-4058
investorrelations(at)analogic.com
Media Contact:
Lars Shaw
Vice President of Global Marketing
(408) 605-3901
lshaw(at)analogic.com
News Source: NASDAQ OMX
08.01.2013 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Analogic CorporationUnited States
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ISIN: US0326572072
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End of Announcement DGAP News-Service
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Datum: 08.01.2013 - 15:01 Uhr
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