Ambu, a Denmark-based listed global MedTech company that delivers solutions in endoscopy, anesthesia, and patient monitoring, has acquired TIMS Medical (a division of Foresight Imaging), a US-based MedTech company specialising in imaging and reporting solutions, for an upfront payment of US$45m and additional milestone payments of up to US$20m.
The acquisition is a strategic step in Ambu’s aspiration to achieve a leading position in global endoscopy.
“TIMS Medical has built an impressive platform that is deeply embedded in clinical workflows across the US,” said Britt Meelby Jensen, CEO of Ambu. “By combining their proven capabilities with Ambu’s endoscopy portfolio, we can offer a more connected workflow, improve efficiency for clinicians, and help healthcare providers treat more patients.”
TIMS Medical, established in 2004, develops and provides hardware and software solutions that help clinicians record, edit, archive, document, review, and integrate medical imaging into hospitals’ electronic medical record platforms and imaging systems. It has approximately 55 employees, an annual revenue of around US$15m, and gives Ambu access to around 7,000 installations across US hospitals.
Over time, Ambu sees attractive opportunities to further develop the TIMS Medical technology platform and expand its use across other endoscopy areas.
“Joining Ambu gives us the opportunity to bring our technology to more customers, while continuing to support the hospitals and clinicians who rely on TIMS products today,” said Mark Mariotti, founder and CEO of TIMS Medical.
Ambu shares last traded at DKK66.10. They opened the year at DKK88.30.
