Altaris’ Deal For Analogic Clears Regulatory Hurdle

Analogic Corp. [ALOG] on Monday said its pending $1.1 billion acquisition by the private equity firm Altaris Capital Partners has received approval by U.S. regulators.

Analogic's computed tomography-based ConneCT checkpoint scanner. Photo: Analogic

Analogic's computed tomography-based ConneCT checkpoint scanner. Photo: Analogic

The Federal Trade Commission provided early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, clearing one hurdle on the way to completion of the acquisition, which is still expected in mid-2018. Analogic’s shareholders must still approve the deal.

Following a 10-month strategic review of alternatives, Analogic in early April announced that Altaris has agreed to acquire the company for $1.1 billion in cash.

Analogic develops and manufactures products for medical imaging, ultrasound, and security detection. The company’s computed tomography-based security detection systems are used to automatically detect explosives in checked bags at airports worldwide. The company is providing a variant of that technology for checkpoint applications at airports. Analogic also has capabilities in Rapid DNA for security purposes.

Altaris’ portfolio includes a range of healthcare companies but none in the security market.





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