Analogic to acquire Ultrasonix Medical Corporation for $83M cash Analogic Corporation announced that it has signed an agreement to acquire privately held Ultrasonix Medical Corporation based in Vancouver, Canada for $83M in cash. Ultrasonix is a supplier of advanced ultrasound systems for point-of-care and general imaging applications with over 5,000 systems installed worldwide. The purchase price paid to Ultrasonix shareholders will be funded out of Analogic's available cash balance. The transaction is expected to close in late February. Analogic expects that this business combination will be neutral to EPS in Analogic's fiscal year 2013, excluding purchase accounting adjustments and transaction related costs, but will become accretive in fiscal year 2014.
Analogic upgraded to Buy from Hold at Brean Capital Brean Capital upgraded Analogic to Buy with a $110 price target saying it expects the business to both uptick and be more predictable going into FY16. Brean sees the company's growth being led by ultrasound.