Sweden's Getinge Group will snatch up Germany's Pulsion Medical Systems in a $189 million deal that boosts its presence in the patient-monitoring med tech space.
Executives plan to pursue their acquisition through a Getinge subsidiary based in Germany. Expectations are that the deal will close in the 2014 first quarter, pending various regulatory approvals, and it will affect Getinge's profit per share next year in terms of restructuring costs, goodwill amortization and financing costs.
In gunning for Pulsion, Getinge is looking at synergy. Getinge is already focused, in part, on ventilation and anesthesia-related devices. Pulsion fits in well because its central business covers cardiac and other monitoring devices for critically ill patients, plus contrast agents and devices that help improve images during diagnostic and surgical procedures. Pulsion also has a global reach. Getinge noted that it booked $46.8 million in revenue through 2012. While most of its sales took place in Europe, Pulsion also maintains sales offices in the U.S., Mexico and Australia.
Getinge said it very much wanted Pulsion's products, but that it also sees opportunity in a strong European presence. Additionally, Getinge sees Pulsion's sales force as helping with its own rollout of continuous glucose and lactate monitoring devices. The Pulsion sales team, when called on, will peddle new and more "advanced monitoring" devices made possible through the acquisition, Getinge said. Also, simply put, critical care monitoring is a growing space, and Getinge is right to expand its related product offerings.
Getinge casts a wide net in the healthcare and life sciences space. The company's Maquet Cardiovascular division paid $680 million two years back for Atrium Medical, a U.S. company focused on interventional cardiology and radiology, chest trauma care, thoracic drainage, vascular and general surgery. Kinetic Concepts sold its therapeutic support systems to Getinge for $275 million in 2012.
Two other Getinge divisions target patient mobility and wound management, and infection control/contamination prevention.
- read the release
- here's Reuters' mention
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