GSI Group acquires NDS Surgical for about $82.5M
BEDFORD, Mass. (AP) — GSI Group Inc. said Tuesday that it acquired NDS Surgical Imaging for about $82.5 million in cash.
The San Jose, Calif.-based company makes surgical and radiology displays, along with related items. GSI said the addition of NDS significantly expands its existing sales channels and makes the company more relevant to major medical manufacturers.
GSI, which makes laser-based systems for a variety of uses, financed the deal with $25 million of cash on hand, with the rest coming from the company's new credit facility.
GSI said it expects the acquisition to boost its profits and add more than $80 million to its 2013 revenue.
Analysts expect annual revenue of $284.1 million, according to FactSet.
Shares of Bedford, Mass.-based GSI rose 53 cents, or 6.3 percent, to $9 in midday trading.