BOTHELL, WA - June 30, 2010 - Sonosite, Inc. (NASDAQ: SONO), the world leader and specialist in bedside and point-of-care ultrasound, today announced that on June 30, 2010, it completed its acquisition of privately held VisualSonics , a Toronto-based company focused on ultra high-frequency micro-ultrasound technology, for $67.9 million net of cash and debt.
“This acquisition positions Sonosite for long-term growth in the pre-clinical and clinical point-of-care markets and enables the creation of potential breakthrough imaging products for both market spaces,” said Kevin M. Goodwin, Sonosite President and CEO. “With unmatched ultra high-frequency technology, which operates at five times the center frequency of a conventional ultrasound, VisualSonics’ micro-imaging technology has the potential to revolutionize clinical medicine and continue to transform pre-clinical research.”
“We are pleased to finalize this agreement with Sonosite,” said Anil Amlani, VisualSonics’ President and CEO. “Sonosite and VisualSonics share a passion for creating innovative products and driving new market opportunities.”
Under the terms of the agreement, VisualSonics will become a wholly-owned subsidiary of Sonosite, Inc. Shareholders of VisualSonics approved the acquisition.