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

  • ZOLL Medical Corporation, an Asahi Kasei company, has agreed to acquire Itamar Medical Ltd 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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