By Emily Greenhalgh
PBN Web Editor
WEST WARWICK – San Carlos, Calif.-based Natus Medical Inc. has finalized its acquisition of the Grass Technologies product group from technology manufacturer Astro-Med Inc. for $18.6 million cash.
The Grass Technologies group includes clinically differentiated neurodiagnostic and monitoring products, including a portfolio of polysomnography and electroencephalography systems for clinical and research use as well as related accessories and electrodes.
Under the terms of the deal, Astro-Med will retained its Grass manufacturing facility. The companies have entered into an agreement where Astro-Med will continue to manufacture the Grass products and provide other transition services for a period of time, after which Natus will acquire any remaining inventory.
Natus said it expects the acquisition to be accretive to non-GAAP earnings in its second quarter and full year statements.