12.04.13
Getinge is broadening its medical monitoring system portfolio.
The Swedish company is purchasing Pulsion Medical Systems for 16.90 euros ($23) per share in cash, or a total of 139.9 million euros ($189 million) in a deal that represents a premium of 22.1 percent to Pulsion's average share price for the three-month period ended Dec. 3.
According to Getinge, Pulsion's revenues reached 34.6 million euros ($47 million) in 2012, of which 82 percent were in Europe. The company provides specialty monitoring solutions for critically ill patients, including cardiac output measurement through its PiCCO brand. Getinge noted that cardiac output monitoring accounts for 83 percent of Pulsion's sales, of which 77 percent relates to disposables.
Getinge said that the transaction, which is expected to be completed in the first quarter of next year, will "be an important reinforcement in the commercial roll out" of its Eirus solution for continuous glucose and lactate monitoring. The company added that it "believes there are significant market opportunities in developing a broader portfolio of advanced monitoring solutions with unique, recurring revenue streams." Getinge noted the acquisition will contribute to its profit in 2014.
Through the acquisition, Pulsion, which is predominantly strong in Europe, will gain access to a significantly larger sales footprint. Pulsion's existing sales force has vast expertise in commercializing advanced monitoring solutions and related catheters. It also will be an important reinforcement in the commercial roll out of Getinge's recently introduced solution for continuous glucose and lactate monitoring, Eirus. Getinge believes there are significant market opportunities in developing a broader portfolio of advanced monitoring solutions with unique, recurring revenue streams," according to a news release about the acquisition.
The Swedish company is purchasing Pulsion Medical Systems for 16.90 euros ($23) per share in cash, or a total of 139.9 million euros ($189 million) in a deal that represents a premium of 22.1 percent to Pulsion's average share price for the three-month period ended Dec. 3.
According to Getinge, Pulsion's revenues reached 34.6 million euros ($47 million) in 2012, of which 82 percent were in Europe. The company provides specialty monitoring solutions for critically ill patients, including cardiac output measurement through its PiCCO brand. Getinge noted that cardiac output monitoring accounts for 83 percent of Pulsion's sales, of which 77 percent relates to disposables.
Getinge said that the transaction, which is expected to be completed in the first quarter of next year, will "be an important reinforcement in the commercial roll out" of its Eirus solution for continuous glucose and lactate monitoring. The company added that it "believes there are significant market opportunities in developing a broader portfolio of advanced monitoring solutions with unique, recurring revenue streams." Getinge noted the acquisition will contribute to its profit in 2014.
Through the acquisition, Pulsion, which is predominantly strong in Europe, will gain access to a significantly larger sales footprint. Pulsion's existing sales force has vast expertise in commercializing advanced monitoring solutions and related catheters. It also will be an important reinforcement in the commercial roll out of Getinge's recently introduced solution for continuous glucose and lactate monitoring, Eirus. Getinge believes there are significant market opportunities in developing a broader portfolio of advanced monitoring solutions with unique, recurring revenue streams," according to a news release about the acquisition.