Zoll Medical announced today that it completed its previously announced $538 million acquisition of Itamar Medical (NSDQ:ITMR).
In September, Zoll confirmed its intent to acquire all outstanding shares of Itamar, a developer of non-invasive devices and solutions for the diagnosis of respiratory sleep disorders, at $31 per American Deposiory Share (ADS), a premium of 50.2% over the price of Itamar’s ADS on the Nasdaq market on Sept. 10.
According to a news release, Israel-based Itamar Medical’s ordinary shares will cease to be traded on the TASE market and the company will no longer have reporting obligations under applicable Israeli securities laws.
Chelmsford, Massachusetts-based Zoll said Itamar will operate as a business division within the company, with Itamar’s CEO, Gilad Glick, to lead the division as President.
Itamar’s principal operations in Caesarea, Israel, will continue with no material changes to operations currently…