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Sarasota-based Roper Industries Inc. (symbol: ROP) closed this morning on its acquisition of Northern Digital Inc., a Waterloo, Ontario, Canada-based provider of 3-D measurement technology for medical applications. Roper paid roughly $200 million in cash to complete the purchase.
Northern Digital creates optical and electromagnetic measurement systems for medical and industrial applications, a critical technology particularly for computer-assisted surgery, computer-assisted therapy and image-guided radiation treatment. In addition, the company's technology is used by manufacturers for optical tracking and non-contact 3-D measurements.
“Northern Digital is an excellent addition to our medical platform, joining Verathon and CIVCO Medical Solutions with technology and applications to improve patient outcomes while increasing productivity for doctors and hospitals,” Brian Jellison, Roper's chairman, president and CEO, says in a press release.
Northern Digital's management team, under the leadership of Jamie Fraser, will continue to lead the business as part of Roper.
Roper Industries provides engineered products and solutions for global niche markets, including water, energy, transportation, medical, education and SaaS-based information networks. The Sarasota-based company earned $2.4 billion in revenues in 2010, and its stock is up roughly 4% so far this year, to just under $80 a share.
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