Like The Herald Business Journal on Facebook!
The Herald of Everett, Washington
Heraldnet.com

The top local business stories in your email

Contact Us:

Josh O'Connor
Publisher
Phone: 425-339-3007
joconnor@heraldnet.com

Jody Knoblich
General Sales Manager
Phone: 425-339-3445
Fax: 425-339-3049
jknoblich@heraldnet.com

Jim Davis
Editor
Phone: 425-339-3097
jdavis@heraldnet.com

Site address:
1800 41st Street, S-300,
Everett, WA 98203

Mailing address:
P.O. Box 930
Everett, WA 98206

HBJ RSS feeds

Fujifilm to buy SonoSite of Bothell for $995 million

SHARE: facebook Twitter icon Linkedin icon Google+ icon Email icon |  PRINTER-FRIENDLY  |  COMMENTS
By Mike Benbow
Herald Writer
Published: Tuesday, December 20, 2011, 12:01 a.m.
BOTHELL -- SonoSite, which specializes in portable ultrasound equipment, will be acquired by Fujifilm for $995 million, the companies announced Dec. 15.
The Bothell-based company specializes in miniaturization and will help the Japanese firm expand its health-care products, Fujifilm said in a prepared statement.
Under the proposed deal, Fujifilm would use a U.S. subsidiary to offer $54 in cash for each share of SonoSite stock, which it said was a 50 percent premium from the average closing price during the past three months. It opened Dec. 15 at $53.75.
SonoSite would remain in Bothell under the existing management.
The Bothell company was a spinoff of ATL Ultrasound, now owned by Phillips Healthcare. It has always focused on portable devices that can be used in nontraditional settings, as well as in hospitals.
It said it has devices used in more than 20 clinical specialties.
"This transaction will bring together the complementary strengths of Fujifilm's high-quality imaging technologies and SonoSites's pioneering point-of-care expertise and miniaturization capabilities, amplifying the business' leadership within the growing (point of care ultrasound) sector," Fujifilm said in its statement.
The Japanese firm has been involved in health care beginning with the sale of X-ray films in 1936. It says SonoSite will help it speed its entry into commercializing the next generation of compact ultrasound products.
The deal depends on a vote of SonoSite shareholders. The company's board supports the deal and will recommend it.

MORE HBJ HEADLINES

CALENDAR

Share your comments: Log in using your HeraldNet account or your Facebook, Twitter or Disqus profile. Comments that violate the rules are subject to removal. Please see our terms of use. Please note that you must verify your email address for your comments to appear.

You are logged in using your HeraldNet ID. Click here to update your profile. | Log out.

Our new comment system is not supported in IE 7. Please upgrade your browser here.

comments powered by Disqus

Market roundup