Tuesday, June 9, 2009
CardioDynamics Acquired For $10M
San Diego-based CardioDynamics, a maker of cardiography products used for non-invasive assessment of cardiac output, is being acquired for $10M by SonoSite. According to Sonosite, it will pay $1.35 per share in cash for publicly held CardioDynamics. SonoSite is a developer of ultrasound products, and is based in Bothell, Washington, near Seattle. According to SonoSite, CardioDynamics had revenues of $24.5M in 2008. The deal requires approval by CardioDynamics' shareholders. CardioDynamics was represented in the deal by Cain Brothers and Company LLC, with Pillsbury Winthrop Shaw Pittman LLP acting as legal counsel; SonoSite was represented by GCA Savvian and Fenwick & West LLP.