SonoSite completes acquisition of CardioDynamics
20 August 2009
SonoSite, Inc. (NASDAQ:SONO), has completed the acquisition of
CardioDynamics International Corporation (NASDAQ:CDIC), a leader in
impedance cardiography (ICG) for noninvasive hemodynamic assessment.
CardioDynamics will become a wholly-owned subsidiary of SonoSite,
Inc. and CardioDynamics shareholders will receive $1.35 per share in
cash. The aggregate transaction is valued at approximately $10.0
million. Sonosite had net income of $20.6m on revenue of $244m in 2008.
“This acquisition brings us an established sales channel and a
franchise in cardiovascular disease management with outstanding long
term growth and healthcare cost reduction potential,” said Kevin M.
Goodwin, SonoSite President and CEO.
“The need to detect and treat cardiovascular disease has never been
greater, and CardioDynamics’ products and technology will be the
platform we will build upon to grow in the physician office segment, as
well as expand our presence in the large market for cardiovascular
“Both SonoSite and CardioDynamics have a rich history of innovation
and market development,” said Marcus Smith, SonoSite Vice President,
General Manager, Cardiovascular Disease Management. “We look forward to
combining the products and sales force of CardioDynamics with our own
ultrasound products to make a positive impact on cardiovascular disease,
with particular emphasis on improving patient outcomes and reducing
healthcare system costs.”
CardioDynamics’ ICG product line provides non-invasive assessment of
cardiac output and other hemodynamic parameters in the physician’s
office, outpatient clinic or hospital. The company’s latest generation
product, the BioZ Dx system, integrates ICG with electrocardiography
(ECG), providing the ability to assess both mechanical and electrical
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