Saturday, May 28

Medical device maker Natus to go private in $1.2 bln deal

Article content

Healthcare-focused firm investment ArchiMed has agreed to buy Natus Medical Inc for $1.2 billion and take it private, the medical device maker said on Monday.

Natus shareholders will receive $33.50 in cash, which represents a 28.6% premium to the stock’s last closing price.

The company makes medical equipment and supplies for the diagnosis and monitoring of disorders that affect the brain, nerves, muscles and newborns.

Natus shares have dropped 9% over the past year.

The COVID-19 pandemic has affected demand for non-urgent surgical procedures, in turn hitting sales of some medical devices.

(Reporting by Manas Mishra in Bengaluru; Editing by Devika Syamnath)