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Itamar Medical focuses on the development and commercialization of non-invasive medical devices and solutions to diagnose respiratory sleep disorders.
ZOLL Medical manufactures medical devices and related software solutions.
Under the agreement terms, ZOLL Medical will acquire all outstanding ordinary shares of Itamar Medical for $31 per ADS, or $1.03 (equivalent to approximately NIS 3.31) per ordinary share, in cash.
The offer of $31 per ADS represents a premium of 50.2% over the price of Itamar Medical's ADS on the Nasdaq Stock Market on September 10.
The transaction is expected to close by the end of 2021.
Once the acquisition is completed, Itamar Medical's principal operations will continue at its current location in Caesarea, Israel, including its R&D and Digital Health Technology centers, as well as the production center.
Price Action: ITMR shares are up 42.64% at $29.44 during the premarket session on the last check Monday.
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