SonoSite to buy ultrasound company
Published 5:51 pm Thursday, May 27, 2010
BOTHELL — SonoSite Inc. announced Thursday it will acquire a Toronto-based company known for developing ultrasound technology.
SonoSite, a Bothell-based medical device company, purchased Visualsonics for roughly $71 million in cash and debt.
“Visualsonics has developed potentially game-changing ultrasound technology that breaks conventional barriers for visualizing superficial soft tissue,” said SonoSite Chief Executive Kevin Goodwin.
He added: “Our intention is to integrate Visualsonics’ micro-ultrasound technology with SonoSite’s miniaturization competency and user design to deliver ultra high-frequency micro-ultrasound into clinical medicine.”
A statement from SonoSite cited the Toronto company’s connections with prominent universities as a valuable asset.
The deal is subject to approval from Visualsonics shareholders.
SonoSite reported first-quarter 2010 earnings of $1.4 million last month, the equivalent of 8 cents a share.
The company is expanding fast; it purchased California-based CardioDynamics International last year for $12.3 million in cash and debt.
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