Natus Medical moves to 52-week high on acquisition of Schwarzer neurology business
Natus Medical Inc. (Nasdaq:BABY) announced Wednesday it had acquired the neurology business of privately owned Schwarzer GmbH in a cash purchase. Shares of Natus Medical reached a 52-week high on the news. Natus Medical, a healthcare product provider that specializes in items for newborns, said the neurology division of Schwarzer will provide the company with expansion opportunities.
“Schwarzer Neurology adds to our growth opportunities by broadening our product offerings in the EEG market and allows us to further leverage our international distribution organization, bringing Natus another step closer to achieving our stated goal of growing revenue to a $250 million annual run rate by the end of 2008,” said Natus President and CEO Jim Hawkins.
Shares of Natus Medical rose more than 3% to a 52-week high of $22.42. The stock has gained 38.3% during the past year.
“Schwarzer Neurology adds to our growth opportunities by broadening our product offerings in the EEG market and allows us to further leverage our international distribution organization, bringing Natus another step closer to achieving our stated goal of growing revenue to a $250 million annual run rate by the end of 2008,” said Natus President and CEO Jim Hawkins.
Shares of Natus Medical rose more than 3% to a 52-week high of $22.42. The stock has gained 38.3% during the past year.
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