Natus Medical (Nasdaq:NTUS) announced that ArchiMed’s investment firm completed its previously announced acquisition of the company.
In April, the company announced that the MED Platform II fund of ArchiMed — an investment firm focused on the healthcare industry — would acquire Natus, a developer of medical devices for screening, diagnosing and treating disorders affecting the brain, neural pathways, and eight sensory nervous systems, for a total equity value of $1.2 billion.
Under the terms of the acquisition, Natus shareholders received $33.50 in cash for each share of common stock, according to a news release.
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“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,” Natus CEO Thomas J. Sullivan said in the release. “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.”
ArchiMed Partner Justin Bateman added that the company, together with management, will “significantly expand the reach and breadth of Natus’ market leading products,” while also focusing research and development and pursuing acquisitions of “complementary businesses.”
In conjunction with the closing of the acquisition by ArchiMed, Natus Chief Commercial Officer Austin F. Noll III was promoted to president of the company.
Noll’s promotion follows what the company described as an “exemplary career” across the space of 10 years of leadership at Natus.
“Austin’s leadership at Natus has been vital to our advancement as a leading Neuroscience company and I am pleased to partner with him in this next phase of our growth,” Sullivan said.
