Tuesday, June 9, 2009

SonoSite Buys CardioDynamics

Bothell, Washington-based SonoSite, a publicly held firm developing ultrasound equipment, said Tuesday afternoon that it is in an agreement to acquire CardioDynamics International Corporation. According to SonoSite, the deal is worth approximately $10.0M, or $12.3M net of cash and debt. SonoSite said it will pay $1.35 per share in cash for CardioDynamics. CardioDynamics develops cardiography products used for non-invasive assessment of cardiac output, and had revenues of $24.5M in 2008. SonoSite was advised by GCA Savvian and Fenwick & West LLP in the deal; CardioDynamics was represented by Cain Brothers and Company and Winthrop Shaw Pittman LLP.