SARASOTA, Fla. (AP) -- Medical and industrial equipment maker Roper Industries Inc. said Wednesday it is buying Managed Healthcare Associates Inc. for $1 billion in cash.
MHA, based in Florham Park, N.J., provides services and technologies for alternate-site health care providers. It works with long-term care pharmacies, assisted living facilities, long-term care facilities, and infusion and specialty pharmacies.
Roper, which is based in Sarasota, Fla., said it expects to complete the purchase within 30 days and said the deal will add to its net income immediately. It expects MHA to generate $95 million in earnings before taxes, interest, depreciation and amortization over the first 12 months after the deal closes.
Roper reported $2.99 billion in revenue in 2012, up 7 percent from the year before. The company's products include devices and software used in radiation oncology and computer-assisted surgical procedures, disposable products used in ultrasound imaging for minimally invasive procedures, and digital imaging products and software.
In August, Roper bought hospital software company Sunquest Information Systems for about $1.42 billion.
Shares of Roper lost 72 cents to $120.54 during the day and picked up 86 cents to $121.40 in aftermarket trading following the announcement of the deal.