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DUBLIN, Ohio (AP) - Medical products and services company Cardinal Health Inc. said on Monday it will buy medical technology company Viasys Healthcare Inc. for $1.42 billion, an acquisition that will help Cardinal expand in international markets.
Cardinal will pay $42.75 per share for Viasys' outstanding shares, a 35 percent premium over its closing stock price of $31.55 on Friday. Viasys stock jumped 37 percent, or $11.63, to a record $43.18 per share in trading Monday. Cardinal also will assume debt of $50 million.
Conshohocken, Pa.-based Viasys, which had revenue of $610 million in 2006, has about 40 percent of its customers in international markets. The company makes ventilators and diagnostic systems used to diagnose and treat pulmonary disease and instruments that monitor the brain, muscles, blood flow, hearing and nerves. It also makes orthopedic implants.
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