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SonoSite Buys CardioDynamics for $12.3M

Sonosite (NASDAQ: SONO), the Bothell, WA-based maker of portable ultrasound machines, announced today it will purchase San Diego-based CardioDynamics International (NASDAQ: CDIC), a developer and manufacturer of noninvasive medical diagnostic tools for cardiovascular disease. SonoSite paid $1.35 per share in cash, or about $10 million. The total deal is worth $12.3 million when accounting for cash and debt. CardioDynamics generated $24.5 million in revenue last year, and had a net loss of $3.2 million.

Eric Hal Schwartz is an intern in Xconomy's Seattle office. He can be reached at eschwartz@xconomy.com.

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