SonoSite Buys CardioDynamics for $12.3M

Eric Hal Schwartz6/9/09

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 was an intern in Xconomy's Seattle office.