Natus Medical Incorporated (NASDAQ: NTUS) has confirmed its acquisition by ArchiMed Group. Both the companies have inked a definitive agreement under which ArchiMed Group will acquire Natus by an affiliate of ArchiMed (ArchiMed), a leading investment firm focused mainly on the healthcare industry for around $1.2 billion.
The sale of Natus to ArchiMed would provide its shareholders with quick and substantial financial value as well as an attractive premium, and the Board has uniformly determined that this deal is in its shareholders' best interests. Natus said that almost 1,400 Natus Teammates are dedicated to improving patient outcomes and quality of life for patients with illnesses of the brain, neural pathways, and eight sensory nerve systems.
ArchiMed’s mix of operational, medical, scientific, and financial expertise will support the company to continue its mission to serve its customers while delivering immediate value to shareholders. Furthermore, Natus’s Board of Directors has unanimously authorized the merger agreement with ArchiMed and suggests that Natus’s shareholders adopt the merger agreement.
Additionally, under the terms of the deal, Natus stockholders will earn $33.50 in cash for each share of Natus common stock, which represents a 29 percent premium over the Company's common stock closing price on April 14, 2022. There are no financing conditions associated with the transaction, which has fully committed equity funding from ArchiMed-affiliated funds and fully committed debt financing.
Natus may solicit offers from third parties for a period of 30 days through May 17, 2022, and in some situations for a period of 35 days through May 22, 2022, under the provisions of the merger agreement. In addition, Natus may react to unsolicited bids that represent or would reasonably be expected to lead to a better proposal at any time before receiving shareholder approval, subject to the requirements of the merger agreement.