Natus Medical has purchased Excel-Tech for approximately $64 million, the companies announced.
San Carlos, Calif.-based Natus, which makes healthcare products to screen and treat neurological disorders, will sell neurological medical devices designed by Excel-Tech, Ontario, Canada, through its international distribution organization across 80 countries.
Natus is acquiring the company at a price of $3.25 Canadian per share, which is about $3.34 U.S. There are about 19.4 million shares of outstanding common stock. Excel-Tech reported revenue of $32.5 million Canadian, or about $33.38 million U.S., for the 12 months ended July 31. The acquisition is expected to be complete by the first week in December.