News | December 15, 2011

Fujifilm to Acquire SonoSite

Nanomaxx is one of the portable ultrasound systems offered by SonoSite.

December 15, 2011 – Fujifilm Holdings Corp. announced today that it has entered into a definitive agreement with SonoSite Inc., a provider of bedside and point-of-care ultrasound technology, pursuant to which Fujifilm will acquire SonoSite for approximately $995 million (which includes amounts payable in connection with its convertible debt). The transaction was unanimously approved by the Boards of Directors of both companies.

SonoSite was cited as a leader with 42 percent market share in the compact ultrasound market in a report, “The U.S. Market for Compact Ultrasound Systems: Challenges & Opportunities – 2010,” published in February 2011. The report was issued by industry analyst Harvey Klein, Ph.D., of Klein Biomedical Consultants Inc.

Fujifilm, through a U.S. subsidiary, will make an all-cash tender offer to purchase all outstanding shares of SonoSite common stock for $54 per share in cash. The purchase price represents a premium of 50 percent over SonoSite’s average closing stock price over the three months ended Dec. 14, 2011, and a 75.4 percent premium over the closing price on Nov. 2, 2011, the last trading day before news reports relating to a possible sale transaction were first published. The tender offer is scheduled to commence within 20 business days and will remain open for 21 U.S. business days.

The transaction is conditioned on the tender of a majority of the outstanding shares of SonoSite and remains subject to the satisfaction of customary closing conditions, including expiration of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and necessary foreign jurisdictions. Following the completion of the tender offer, Fujifilm intends to acquire the remaining outstanding shares of SonoSite common stock through a second-step merger.

SonoSite’s Board of Directors will recommend that SonoSite’s shareholders tender their shares to Fujifilm pursuant to the offer. Upon completion of the acquisition, SonoSite will become a wholly owned subsidiary of Fujifilm and will continue operations in Bothell, Wash.  SonoSite will continue to be managed by its current leadership team, who will play a key role in driving the group’s future growth in the medical equipment sector, a key strategic pillar of Fujifilm.

SonoSite specializes in the development of ultra-portable and robust devices used in more than 20 clinical specialties. The company also recently expanded into the pre-clinical research market. Its products are designed for applications where ultrasound has not typically been used, such as emergency medicine, surgery, critical care, internal medicine, musculoskeletal and vascular access procedures, as well as for imaging in traditional applications, such as radiology, cardiology, vascular medicine, and obstetrics and gynecology.

For more information: www.sonosite.com,  www.fujimed.com

Related Content

Ebit and DiA Imaging Analysis Partner on AI-based Cardiac Ultrasound Analysis
News | Cardiovascular Ultrasound | April 16, 2019
DiA Imaging Analysis has partnered with the Italian healthcare IT company Ebit (Esaote Group), to offer DiA’s LVivo...
360 Photos | 360 View Photos | April 12, 2019
This 360 degree view shows staff at the ...
DiA Imaging Analysis Introduces LVivo SAX Ultrasound Analysis Tool
Technology | Cardiovascular Ultrasound | April 09, 2019
DiA Imaging Analysis announced the launch of LVivo SAX, a cardiac analysis tool that helps clinicians quickly and...
SuperSonic Imagine Highlights Aixplorer Mach 30 Breast Ultrasound at SBI/ACR Breast Imaging Symposium
News | Ultrasound Women's Health | April 03, 2019
SuperSonic Imagine will introduce the new generation of its Aixplorer Mach 30 breast ultrasound solution at the 2019...
Videos | RSNA | April 03, 2019
ITN Editor Dave Fornell takes a tour of some of the most interesting new medical imaging technologies displa
Bay Labs Announces New Data on EchoGPS, AutoEF AI Software at ACC.19
News | Cardiovascular Ultrasound | March 15, 2019
Artificial intelligence (AI) company Bay Labs announced the presentation of two studies assessing performance of the...
Esaote Introduces MyLab X8 Ultrasound Platform
News | Ultrasound Imaging | March 13, 2019
Esaote announced the launch of MyLab X8, a high-performance, versatile ultrasound platform to support hospitals and...
Ultrasound Societies Urge FDA to Remove "Black Box" on Ultrasound Contrast Agents
News | Ultrasound Imaging | March 07, 2019
National and international ultrasound societies are urging the U.S. Food and Drug Administration to remove the “black...
Canon Medical Systems introduces 33 MHz Ultra-High Frequency Ultrasound Transducer
News | Ultrasound Imaging | March 01, 2019
March 1, 2019 — Expanding its advanced, high-performing Aplio i-series...