Press Release

ZOLL Medical Agrees to Acquire Itamar Medical for $538 Million

September 21, 2021

London – September 21, 2021 – Cooley advised ZOLL Medical, a company that manufactures medical devices and related software solutions, on its definitive agreement to acquire publicly traded medical technology company Itamar Medical. Lawyers Michal Berkner, Lester Fagen, Michael McGrail, Jarrett Burks and Vlad Herta led the Cooley team advising ZOLL Medical.

The transaction, which is expected to close by the end of 2021, will allow ZOLL to better serve undiagnosed and untreated cardiac patients. Under the terms of the agreement, ZOLL will acquire all outstanding ordinary shares of Itamar for a total value of approximately $538 million.

“It is currently estimated that 60% of cardiovascular patients suffer from some form of sleep apnea, and the majority of these patients go undiagnosed,” Jon Rennert, CEO of ZOLL Medical, said in a news release. “The combination of ZOLL Medical and Itamar Medical will help more patients receive diagnosis and treatment for sleep-disordered breathing. We look forward to helping strengthen the collaboration between the worlds of cardiology and sleep medicine.”

An Asahi Kasei Group company, ZOLL Medical develops and markets medical devices and software solutions that help advance emergency care and save lives while also increasing clinical and operational efficiencies. With products for defibrillation and cardiac monitoring, circulation enhancement and CPR feedback, supersaturated oxygen therapy, data management, ventilation and therapeutic temperature management, ZOLL Medical provides a comprehensive set of technologies that help clinicians, lay rescuers, and emergency medical services and fire professionals improve patient outcomes in critical cardiopulmonary situations.

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