GSI Group buys NDS Surgical Imaging for $82.5M

Bio-optics and biophotonics technologies supplier GSI Group Inc. (NASDAQ: GSIG; Bedford, MA) has acquired NDS Surgical Imaging (NDS; San Jose, CA), which produces surgical and radiology displays and related peripherals, for $82.5 million in cash. The acquisition is  subject to customary closing adjustments.

The acquisition resulted from GSI Group's medical component market strategy, which has been in process for over a year. The combined technology platforms will expand the company's portfolio of highly differentiated photonic technologies supplied to global OEM customers. Also, the medical applications that NDS serves with its products are adjacent to several of GSI's existing medical applications.

NDS was the first to market surgical liquid-crystal displays (LCDs); LED backlights with backlight stabilization in a surgical display; proprietary Color Correction Technology (patent-pending ) and automated LCD calibration technology; 3 and 5 Mpixel medically certified diagnostic LCDs; and ultra-wideband (UWB) wireless technology in the surgical suite. In addition, the company has gained FDA 510(k) approval for LCDs for mammography.

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