Nov 7 2009
Roper Industries, Inc. (NYSE: ROP) today announced that it has signed a definitive agreement to acquire Verathon, Inc., a leading provider of proprietary medical devices. The Verathon Board of Directors has approved the transaction and the closing is subject to customary regulatory approvals and closing conditions, including shareholder approval. The parties expect the closing to be completed in early December.
Headquartered in Bothell, Washington, Verathon is a leading global provider of proprietary medical devices and services. Verathon's noninvasive BladderScan® instrument is a standard of care for portable ultrasound bladder volume measurement. The Company's GlideScope® Video Laryngoscope improves intubation success for emergency departments, operating rooms and rapid response applications such as EMS and military applications. With a direct sales force of over 140 people, Verathon provides global coverage to hospitals, primary care physicians, acute care and military end markets.
Roper also announced it has acquired the assets of United Toll Services, LLC (UTS). Headquartered in Montgomery, Alabama, UTS provides software and in-lane hardware systems for toll and traffic solutions. With unique and patented technology, remote monitoring capabilities, new lane and camera configurations and system integration capabilities, UTS provides expanded hardware and software solutions for the toll industry.
The existing leadership teams of both businesses are expected to continue in place once the acquisitions are completed. The total investment for these transactions will be approximately $356 million. The company expects these two transactions will add more than $140 million to 2010 revenue with at least $38 million of EBITDA.
SOURCE Roper Industries, Inc.
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