Roper buys Verathon as part of $356mm deal

Deal summary reprinted from Strategic Transactions - November 2009

Roper Industries (diversified) has purchased medical device company Verathon and traffic software company United Toll Services for a combined $356mm. Together the acquired companies will bring in over $140mm in revenues and $38mm in earnings. Read more...

Roper buys Verathon as part of $356mm deal

Deal summary reprinted from Strategic Transactions - November 2009

Roper operates through several business units: Industrial Technology; Radiofrequency Technologies; Energy Systems & Controls; and Scientific and Industrial Imaging, which includes medical imaging devices and consumables for urology and other ultrasound applications. Formed in 1984 as Diagnostic Ultrasound Corp. with a focus on noninvasive bladder monitoring, Verathon now has 400 employees and fits in nicely with the latter unit as it brings several imaging products to Roper. Its portable noninvasive BladderScan 3-D ultrasound devices quickly measure urinary bladder volume and post-void residual to detect common bladder problems including urinary tract infection. Verathon's GlideScope video laryngoscopes (gained through its $10mm acquisition of Saturn Biomedical Systems in 2006) provide a real-time view of a patient's airway and assist in endotracheal tube placement. Verathon is the second device company that Rho Capital Partners has sold off in just a day's time; Gloucester Pharmaceuticals was picked up by Celgene for $340mm plus the potential for another $300mm in earn-outs.

Other device deals this week:

Alliance

  ValveXchange licenses rights to Univ. of Colorado's IP · November 2009

Financing

  Corindus gets $5.3mm so far through late-stage venture round · November 2009
  Spine View brings in $6.3mm in early-stage equity financing · November 2009
  Liver failure company Hepa Wash raises €3.8mm Series A round · December 2009

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