Itamar Medical Goes Private In $538M Deal: All You Need To Know

·1 min read
  • ZOLL Medical Corporation, an Asahi Kasei company, has agreed to acquire Itamar Medical Ltd (NASDAQ: ITMR) for a total value of approximately $538 million.

  • Itamar Medical focuses on the development and commercialization of non-invasive medical devices and solutions to diagnose respiratory sleep disorders.

  • ZOLL Medical manufactures medical devices and related software solutions.

  • Under the agreement terms, ZOLL Medical will acquire all outstanding ordinary shares of Itamar Medical for $31 per ADS, or $1.03 (equivalent to approximately NIS 3.31) per ordinary share, in cash.

  • The offer of $31 per ADS represents a premium of 50.2% over the price of Itamar Medical's ADS on the Nasdaq Stock Market on September 10.

  • The transaction is expected to close by the end of 2021.

  • Once the acquisition is completed, Itamar Medical's principal operations will continue at its current location in Caesarea, Israel, including its R&D and Digital Health Technology centers, as well as the production center.

  • Price Action: ITMR shares are up 42.64% at $29.44 during the premarket session on the last check Monday.

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