Excel-Tech buy to add to Natus neurology offering

Natus Medical is set to broaden its neurological portfolio, with the Can$62.5m ($64m) purchase of Excel-Tech, an Oakville, Ontario-based company specialising in developing computer-based diagnostic systems for neurological and sleep disorders. San Carlos, California-based Natus definitively agreed to purchase all outstanding Excel-Tech shares at Can$3.25 per share. Natus said that the deal will confirm its presence as a market leader in neurology and represent a stepping stone to its goal of growing revenue to $250m by the end of 2008. The company believes that the acquisition, expected to close in the first week of December, will be immediately accretive to earnings - Excel-Tech reported revenue of Can$32.5m for the 12 months ending July 31 2007. Excel-Tech will be able to offer its range of EEG patient monitoring systems for epilepsy diagnosis, electromyography systems and intra-operative monitoring systems, to over 80 countries via Natus' distribution routes.