Natus MedicalNatus Medical today announced that it entered a definitive agreement to be acquired by Archimed for a total equity value of $1.2 billion.

Through the agreement, Natus shareholders will receive $33.50 in cash for each share of Natus common stock to represent a 29% premium to the stock’s close price on April 14.

“The sale of Natus Medical to ArchiMed will provide our shareholders with immediate and substantial cash value, as well as a compelling premium, and the Board has unanimously agreed that this transaction is in the best interests of our shareholders,” Natus Medical Chairperson Joshua Levine said in an SEC filing.

Natus shareholders will receive $33.50 in cash for each share of the company’s common stock they own. The transaction is expected to close in the third quarter of 2022 and is subject to customary closing conditions and approval by Natus shareholders and regulatory approvals. According to the company, once the acquisition is complete, Natus will no longer be listed on any public market.

“Our nearly 1,400 Natus Teammates remain committed to advancing the standard of care and improving outcomes and quality of life for patients affected by disorders of the brain, neural pathways, and eight sensory nervous systems,” said Thomas J. Sullivan, President & Chief Executive Officer of Natus Medical, Incorporated. “ArchiMed’s mix of operational, medical, scientific and financial expertise will help us continue our mission to serve our customers while delivering immediate value to shareholders.”