Sam Brusco, Associate Editor05.28.24
Nordson Corporation has begun a deal to acquire Atrion Corporation, a company specializing in medical infusion fluid delivery and niche cardiovascular solutions.
Allen, Texas-based Atrion generated about $169 million in annual revenue in 2023. It was established in 1944 and has three specialized U.S. Food and Drug Administration (FDA)-registered manufacturing facilities in the U.S.
Atrion’s portfolio consists of three businesses:
The $460 per share in cash price for Atrion values the deal at about $800 million. Nordson said it expects the transaction to close before the end of its fiscal year 2024.
“Over nearly 15 years, Nordson has built a strong medical portfolio through organic and acquisitive growth,” said Sundaram Nagarajan, president and CEO of Nordson Corporation. “This attractive end market has several long-term secular growth drivers, including aging of the population, increasing healthcare spending and procedures, adopting of minimally-invasive surgical techniques, continuing innovation and medical OEM outsourcing. We have long admired Atrion’s technology portfolio, and today’s announcement represents a step forward in expanding our medical offerings for our customers. Leveraging our NBS Next growth framework and medical business expertise, we see significant operational synergies, while supporting the long-term growth of the business.”
“In addition to its strong product and patent portfolios, Atrion’s highly talented organization, as well as its three FDA registered design and manufacturing facilities, will be important additions to Nordson MEDICAL,” added Stephen Lovass, executive VP, Nordson Medical and Fluid Solutions. We look forward to being able to offer our medical customers a more comprehensive offering of solutions.”
Allen, Texas-based Atrion generated about $169 million in annual revenue in 2023. It was established in 1944 and has three specialized U.S. Food and Drug Administration (FDA)-registered manufacturing facilities in the U.S.
Atrion’s portfolio consists of three businesses:
- Halkey Roberts, a maker of infusion fluid delivery systems, including single-use OEM medical components like swabable and pressure relief valves.
- Atrion Medical, provider of OEM interventional inflation devices for balloon catheterization, stent deployment, and fluid delivery in structural heart, ENT, and CI procedures.
- Quest Medical, provider of myocardial protection devices and single-use consumables for real-time drug administration in cardiovascular surgery.
The $460 per share in cash price for Atrion values the deal at about $800 million. Nordson said it expects the transaction to close before the end of its fiscal year 2024.
“Over nearly 15 years, Nordson has built a strong medical portfolio through organic and acquisitive growth,” said Sundaram Nagarajan, president and CEO of Nordson Corporation. “This attractive end market has several long-term secular growth drivers, including aging of the population, increasing healthcare spending and procedures, adopting of minimally-invasive surgical techniques, continuing innovation and medical OEM outsourcing. We have long admired Atrion’s technology portfolio, and today’s announcement represents a step forward in expanding our medical offerings for our customers. Leveraging our NBS Next growth framework and medical business expertise, we see significant operational synergies, while supporting the long-term growth of the business.”
“In addition to its strong product and patent portfolios, Atrion’s highly talented organization, as well as its three FDA registered design and manufacturing facilities, will be important additions to Nordson MEDICAL,” added Stephen Lovass, executive VP, Nordson Medical and Fluid Solutions. We look forward to being able to offer our medical customers a more comprehensive offering of solutions.”