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Article: IntriCon to Acquire Cardiac Diagnostic Monitoring Company.
- Article from:
- Business Wire
- Article date:
- August 13, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Company Also Closes $11.5 Million in Credit Facilities
ST. PAUL, Minn. -- IntriCon Corporation (NASDAQ: IIN), a designer, developer, manufacturer and distributor of body-worn medical and electronics devices, announced today that it has acquired Datrix, Inc., for approximately $2.5 million. Datrix is an Escondido, Calif.,-based supplier of cardiac diagnostic monitoring (CDM) devices, sold to leading medical OEMs.
The total purchase price consists of: $1.225 million cash paid at closing; a $1.05 million subordinated note payable over three years; and, 75,000 shares of IntriCon common stock (valued at $3.27 as of Aug. 11, 2009). Privately held Datrix is a ...