TOKYO – Fujifilm Holdings Corporation announced Wednesday that it has entered into a definitive agreement to acquire ultrasound technology firm SonoSite, Inc. for approximately $995 million.
Tokyo-based 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.
[See also: Handheld ultrasound market poised for rapid growth.]
SonoSite specializes in the development of ultra-portable devices that are used in more than 20 clinical specialties. The company also recently expanded into the pre-clinical research market with its newly acquired ultra-high frequency micro-ultrasound technology.
“Leveraging their existing and future product portfolio Fujifilm and SonoSite will be able to capture the significant growth opportunities arising from new application areas in point-of-care ultrasound diagnosis and treatment,” Fujifilm said in a press release announcing the acquisition.
[See also: Toshiba, Fujifilm top 2011 Best in KLAS Awards.]
Fujifilm President and CEO Shigetaka Komori said the acquisition "significantly accelerates Fujifilm's full-scale entry into the fast-growing hand-carried ultrasound equipment market and will position ultrasonography as a strategic pillar for the future growth of our medical systems business."
After the completion of the sale, SonoSite will become a division of Fujifilm and will continue to operate from its Bothell, Wash., offices.
