John Mumford, President and Chief Executive Officer of XLTEK said: We are pleased to become a part of the growing Natus team and I believe the expanded In the United States and Canada, and provide new distribution for XLTEK products through the Natus international distribution organization, now operating in over 80 countries, added Hawkins. In addition, we plan to leverage our combined direct sales channels Of their research and development efforts within the next 12 to 18 months. XLTEK also has a history of strong product innovation in the neurology and sleep market segments, where we expect to see the fruits Monitoring systems, or IOM systems, used during surgical procedures in the operating room, added Hawkins. Product offerings with products that include a high-end long-term EEG patient monitoring system for the diagnosis of epilepsy, electromyography systems, or EMG systems, used in the diagnosis of neuropathies and myopathies, and intra-operative XLTEKs full line of products for the neurology clinician expands our current The diagnosis of peripheral nervous system dysfunction. XLTEK adds to our growth opportunities by broadening our product offerings in neurology, including XLTEKs products for Million annual run-rate by the end of 2008, said Jim Hawkins, President and Chief Executive Officer of Natus. This acquisition affirms our position as the market leader in neurology and brings Natus one-step closer to achieving our stated goal of growing revenue to a $250 Natus believes the acquisition will be immediately accretive to earnings, excluding associated one-time charges. XLTEK reported revenue ofĬ$32.5 million in the twelve months ended July 31, 2007, cash and cash equivalents of C$16.4 million as of July 31, 2007, and owns the land and building housing their corporate facility in Oakville. $63.6) million based on approximately 19.4 million XLTEK shares outstanding on a diluted basis. The transaction is valued at approximately C$62.5 (U.S. To the excess of C$3.25 over the exercise price of the option. In addition, each share subject to an XLTEK stock option will convert into an amount equal Of a statutory plan of arrangement in Canada under which Natus will acquire all of the outstanding common shares of XLTEK at a cash price of C$3.25 per share. The acquisition is to be completed by way Canadian based XLTEK develops and markets computer-based electro diagnostic systems and disposable supplies usedīy medical practitioners to aid in the detection, diagnosis, and monitoring of neurologic and sleep disorders. (XLTEK) (TSX:NRV.TO) today announced that the companies have entered into a definitive agreement for Natus to acquire XLTEK. SAN CARLOS, Calif. & OAKVILLE, Ontario, Canada, (October 10, 2007) Natus Medical Incorporated (Nasdaq:BABY) and Excel-Tech Ltd.
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