Purchase Furthers Hospira's Strategic Focus on Increased Patient Safety and Improved Hospital Productivity
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Hospira completes Physiometrix Acquisition - Aug 1st 2005
-- Purchase Furthers Hospira's Strategic Focus on Increased Patient Safety and Improved Hospital Productivity --
LAKE FOREST, Ill., Aug. 1, 2005 — Hospira, Inc. (NYSE: HSP), one of the largest hospital products manufacturers in the United States, announced today that it has completed its acquisition of Physiometrix, Inc. (Nasdaq: PHYX), a Massachusetts-based developer of non-invasive medical devices. Hospira announced plans to acquire Physiometrix in June for approximately $23 million in cash plus the repayment of the company's bank debt of approximately $1 million.
"The acquisition of Physiometrix is a milestone in our efforts to expand Hospira's leadership position in patient safety," said John Arnott, senior vice president, Global Commercial Operations, Hospira. "With the increasing importance of sedation monitoring in the hospital, Physiometrix's products will continue to be key during surgical and diagnostic procedures. We are also excited about the longer-term development potential for the technology platform."
Physiometrix's technology provides a measure of the effects of a patient's response to anesthetic agents. This enables anesthesiologists to more precisely administer an appropriate dose of anesthesia, which potentially minimizes the risk of under- or over-medicating a
