ZOLL Medical Corporation, an Asahi Kasei company, closes acquisition of Israeli medical device manufacturer Itamar Medical
December 17, 2021
Asahi Kasei Corp.
ZOLL Medical Corporation (ZOLL), an Asahi Kasei company, has closed its acquisition of Itamar Medical Ltd. (Itamar Medical), an Israeli medical device manufacturer, as announced on September 13, 2021. The acquisition closed on December 16, 2021 (US Eastern time).
ZOLL acquired all outstanding ordinary shares of Itamar Medical for $1.0333333 (equivalent to approximately NIS 3.24) per ordinary share, or $31 per American Depository Share (ADS).
Itamar Medical will operate as a business division within ZOLL, and Gilad Glick, who previously served as Itamar Medical’s CEO, will lead the division as its President. Itamar Medical’s principal operations in Caesarea, Israel will continue with no material changes to operations currently anticipated.
Moving forward, ZOLL will focus on the continuity of Itamar Medical’s business while using ZOLL’s global infrastructure and strong brand to accelerate and expand growth opportunities. It is expected that together, ZOLL and Itamar Medical will help more patients receive diagnosis and treatment for sleep-disordered breathing and help strengthen the collaboration between the worlds of cardiology and sleep medicine.