WESTBOROUGH, Mass. – CONMED (Nasdaq: CNMD) announced Tuesday it is acquiring Westborough-based bio-technology company Viking Systems Inc. for 27 cents per share, which translates to about $22.5 million.
The proposed transaction has been approved by the boards of directors of both companies, and the Utica, N.Y.-based CONMED expects the transaction to close in the fourth quarter of 2012.
This is a significant milestone for Viking," said Jed Kennedy, president and CEO of Viking, in a written statement. "We are excited to join together with CONMED, which shares our vision for 3D-HD surgical imaging and has an established reputation for innovation and excellent customer service."
Viking's lead product is an advanced, three-dimensional vision system that employs a flat-screen monitor and passive glasses. It is used by surgeons during complex minimally invasive laparoscopic surgery.