Go Green World News: Asahi Kasei From Japan to Buy Zoll Medical for $1.2 Billion

Monday, March 12, 2012

Asahi Kasei From Japan to Buy Zoll Medical for $1.2 Billion

7:20 AM Medically Related, Pharma/FDA News, Technology No comments

Zoll Medical makes some very interesting products and recently had their Wi-Fi defibrillator approved by the FDA. Now in case you need instructions, here’s the program for the iPhone. There’s also a wearable vest made by the same company that is is temporary defibrillator.

Wi-Fi enabled defibrillator from Zoll medical approved by FDA

LifeVest wearable defibrillator – for interim care and those who ...

Zoll and Vicor Want to Predict Heart Attacks with a Device–One More Effort With Predictive Analytic Algorithms Using Medical Devices

Asahi Kasei plans to distribute more of the Zoll products in Asia and the 2 companies have already had a long time partnership. Zoll also makes the AutoPulse a revolutionary non-invasive cardiac support pump. Zoll is also all about mobile health and monitoring and has the program used on a phone that shoes how to resuscitate another individual.

The company also has a full suite of software and has IPad versions as well for emergency billing , patient information, analytics and so on. BD

TOKYO & CHELMSFORD, Mass., Mar 12, 2012 (BUSINESS WIRE) -- Asahi Kasei Corporation (tse1:3407)(hereinafter:Asahi Kasei), and ZOLL Medical Corporation ZOLL +0.36% (hereinafter:ZOLL) today jointly announced that Asahi Kasei, Japan's leading diversified chemical manufacturer with businesses in the health care, chemicals & fibers, homes & construction materials, and electronics sectors, has entered into a definitive merger agreement with ZOLL, a manufacturer of resuscitation and critical care devices and related software solutions, pursuant to which Asahi Kasei will acquire ZOLL for approximately $2.21 billion. The transaction has been approved by the Boards of Directors of both companies.

Asahi Kasei, through a U.S. subsidiary, will make a cash tender offer to purchase all of the outstanding shares of ZOLL common stock for $93 per share. The purchase price represents a premium of 29.6% over ZOLL's volume weighted average closing stock price over the 30 trading day period ended March 9, 2012, and a 23.8% premium over the closing price on March 9, 2012. The tender offer is expected to commence within 10 business days and will remain open for a minimum of 20 business days. Closing of the tender offer is subject to customary conditions, including receipt of applicable regulatory clearances and the minimum tender of at least two-thirds of the outstanding shares of ZOLL (on a fully diluted basis). The transaction is not subject to a financing condition. The ZOLL Board of Directors has recommended that ZOLL stockholders accept the offer and tender their shares into the offer when it is made. The transaction is expected to close in the second calendar quarter of 2012.

Moving forward, Asahi Kasei plans strategic investments to accelerate the realization of ZOLL's mission of leading the world in resuscitation technologies, and to build on the ZOLL platform to achieve Asahi Kasei's long term strategic objective of creating a globally competitive health care business with a clear and unique focus on the field of critical care. Asahi Kasei has identified health care as a key strategic sector that will power a new phase of growth for the group, and believes that the acquisition represents a significant milestone in fulfilling its core vision for the health care sector: improving patient quality of life through the creation of innovative technologies and devices for critical care.