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SAN CARLOS, Calif. - Medical device maker Natus Medical Inc. said Tuesday it will buy privately held SonaMed Corp. for an undisclosed amount to bulk up its newborn screening product offerings.
| BABY | 24.32 |  -0.29 |
Natus makes devices used to screen for medical ailments in newborns, including hearing impairments, epilepsy, and sleep disorders. Waltham, Mass.-based SonaMed makes the Clarity Screener and disposable products used to screen for hearing loss in newborns. The company had $3.5 million in revenue in 2007, Natus said.
Natus said it will buy all of SonaMed's capital stock in a cash deal. Both companies boards of directors approved the buyout, which is expected to close in about 40 days. The deal is expected to add to Natus' profit during the first full quarter following the deal.
Shares of Natus closed at $19.02 Monday.
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