Nordson Buys Medical Device Manufacturer Atrion for $800M

Atrion operates three specialized FDA registered manufacturing facilities located in the United States.

I Stock 1460172015

Nordson said it has entered into a definitive agreement to acquire Atrion Corporation, a provider of proprietary medical infusion fluid delivery and niche cardiovascular solutions, for $460 per share in cash, representing a total transaction enterprise value of approximately $800 million. The acquisition expands Nordson’s medical portfolio into new markets and therapies,.

“Over nearly 15 years, Nordson has built a strong medical portfolio through organic and acquisitive growth. 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," said Nordson CEO Sundaram Nagarajan.

Headquartered in Allen, Texas, Atrion is a manufacturer of proprietary medical products, generating approximately $169 million in annual revenue in 2023. Established in 1944, Atrion supports customers globally through three specialized FDA registered manufacturing facilities located in the United States. Atrion’s portfolio consists of three key businesses that will significantly expand Nordson’s addressable market in infusion and cardiovascular therapies:

  • Halkey Roberts is a leader in infusion fluid delivery solutions, including single-use OEM medical components such as swabable and pressure relief valves.
  • Atrion Medical is a leading provider of OEM interventional inflation devices for balloon catheterization, stent deployment and fluid delivery in structural heart, ENT and GI procedures.
  • Quest Medical’s highly differentiated myocardial protection devices and single-use consumables deliver real-time precise drug administration during cardiovascular surgery.

“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. We look forward to being able to offer our medical customers a more comprehensive offering of solutions," said Stephen Lovass, executive vice president, Nordson Medical and Fluid Solutions segment.

The transaction is expected to close prior to Nordson’s fiscal year-end 2024, pending applicable regulatory and stockholder approvals and will be funded through a combination of cash on hand and newly issued financial debt.