Camtronics becomes a wholly owned subsidiary of Analogic Corporation
AUGUST 24--Analogic Corp. (Peabody, MA) has acquired the remaining shares of Camtronics Medical Systems Ltd., according to Analogic president and CEO Thomas J. Miller.
AUGUST 24--Analogic Corp. (Peabody, MA) has acquired the remaining shares of Camtronics Medical Systems Ltd., according to Analogic president and CEO Thomas J. Miller. Founded as a partially owned Analogic subsidiary in 1986, Camtronics pioneered digital filmless network technology for cardiac catheterization in 1994. With this purchase, Camtronics Medical Systems Ltd. became a wholly owned subsidiary of Analogic Corporation.
Bernard M. Gordon, chairman of the board, stated, "This transaction was part of a natural progression. In 1986 Analogic helped found Camtronics. Engineering staff of the two companies have worked together from the beginning, addressing the most challenging technical issues in image processing to develop and bring to market a number of innovative imaging products."
Eugene W. Bergholz, Camtronics president and cofounder, stated, "This move further demonstrates Analogic's commitment to our strategic business direction, which is the integration of all inpatient and outpatient cardiac patient data. As a wholly owned subsidiary, Camtronics' growth and market leadership will be supported by Analogic's technological and corporate resources."
Prior to this purchase Analogic held an approximately 82% interest in Camtronics. With this acquisition Analogic obtained all outstanding shares of Camtronics common stock.