ReutersHealthcare technology company Analogic Corp. said on Tuesday it had agreed to be bought by private equity firm Altaris Capital Partners LLC for about $1.1 billion in cash.
The offer price of $84 per share is at a discount of 12 percent to the company’s Tuesday’s close.
However, Analogic said the deal represents a 25 percent premium to the closing price of $67.45 on June 7, 2017, the day after the company announced its plans to put itself up for sale.
Analogic’s imaging technologies are used in CT and MRI scans as well as automated threat detection systems for aviation security.
The deal, which is expected to close by mid-2018, was approved by the company’s board, the company said.