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Atrion Corporation (ATRI) delivers innovative medical device solutions for modern healthcare through advanced engineering and regulatory-compliant products. This news hub provides investors and industry professionals with comprehensive updates on the company's developments in clinical technology and market operations.
Access real-time announcements including earnings reports, product innovations, and strategic partnerships. Our curated news collection offers insights into Atrion's role in advancing medical instrumentation while maintaining rigorous quality standards required by healthcare providers and regulatory bodies.
Key updates cover FDA clearances, clinical trial outcomes, and technology advancements critical to understanding the company's market position. Bookmark this page to monitor ATRI developments influencing the medical devices sector and investment considerations.
Atrion (NASDAQ: ATRI) reported its Q2 2024 results, showing revenue growth of 11% to $48.8 million. However, operating income decreased significantly to $0.5 million, largely due to a $5.0 million accrual for acquisition-related expenses. Excluding this accrual, adjusted operating income was $5.5 million, down 25% year-over-year. Diluted EPS fell to $0.23 from $3.73 in Q2 2023.
The company saw strong growth in MPS consoles (22%) and disposables (21%), along with recovery in fluid delivery products. Atrion continued to reduce inventories, which negatively impacted operating income but resulted in an 18% inventory reduction since December 31, 2023. As of June 30, 2024, Atrion remained debt-free with $23.2 million in cash and investments.
Atrion (NASDAQ: ATRI) has entered into a merger agreement with Nordson Nordson will acquire Atrion for $460 per share in cash, valuing the deal at approximately $815 million. This price represents a 15% premium to Atrion’s 90-day average stock price and is 20.2 times Atrion’s 2023 EBITDA. The transaction was unanimously approved by the boards of both companies and is expected to close in Q3 2024, pending customary regulatory approvals and closing conditions.
Three of Atrion’s largest shareholders, representing 22% of the company’s shares, have agreed to vote in favor of the merger. Truist Securities is the financial advisor for Atrion, and A&O Shearman is the legal counsel. Upon completion, Atrion will become a wholly-owned subsidiary of Nordson.
Nordson (Nasdaq: NDSN) announced its agreement to acquire Atrion (Nasdaq: ATRI), a leader in medical infusion and cardiovascular technologies, for $460.00 per share in cash. This acquisition values Atrion at approximately $800 million and expands Nordson’s medical portfolio into new markets and therapies. Atrion generated about $169 million in revenue in 2023 and operates three FDA registered manufacturing facilities in the U.S.
The acquisition will be funded through cash on hand and newly issued financial debt and is expected to close before Nordson’s fiscal year-end in 2024, pending regulatory and stockholder approvals. The transaction is expected to generate significant synergies within the first two years of ownership.
The acquisition aligns with Nordson's strategy to leverage long-term growth drivers in the medical sector, including an aging population, increased healthcare spending, and the adoption of minimally invasive surgical techniques.
Atrion (NASDAQ: ATRI) has announced a quarterly dividend of $2.20 per share on its common stock. This dividend will be paid on June 28, 2024, to shareholders recorded by June 14, 2024. Atrion specializes in developing and manufacturing medical products.
Atrion (NASDAQ: ATRI) reported first quarter 2024 results with revenues of $47.3 million, operating income of $3.1 million, and net income of $2.8 million. Diluted earnings per share were $1.59. Despite revenue growth and increased operating income, net income decreased due to a one-time inventory write-off. Gross margins declined primarily due to delayed orders, excess inventory, and product mix. The company remains debt free with total cash and investments of $18.7 million.
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