Nordson to acquire Atrion in an $800 mln deal to bolster medical portfolio (updated)

Nordson

28/05/2024 12:45

(Adds details, background throughout)
       May 28 (Reuters) - Nordson  NDSN.O , which makes
products for a variety of industries, said on Tuesday it would
buy medical devices maker Atrion Corp  ATRI.O  in an $800
million deal, expanding its medical portfolio.
    Nordson, which also makes precision manufacturing products
for the industrial and electronic markets, said it will pay $460
per Atrion share, less than the stock's close of $462.90 in the
previous session.
    Atrion makes products like soft contact lens disinfection
cases and vacuum relief valves that are widely used in
cardiovascular, ophthalmic and fluid delivery markets.
    The Allen, Texas-based company generated revenue of $169
million in 2023.
    Earlier in May, Nordson lowered its full-year revenue
forecast as it faced a slow recovery in the electronics and
semiconductor markets.
    It expects to fund the Atrion deal through a combination of
cash and newly debt.

 (Reporting by Abhinav Parmar in Bengaluru; Editing by Savio
D'Souza)
 ((Abhinav.Parmar@thomsonreuters.com;))