Nordson Acquires Atrion for $800 Million in Cash

Dispensing equipment maker Nordson Corporation (NDSN) on May 28, 2024, said it was acquiring Atrion Corporation (ATRI) for about $800 million in cash.

Deal Structure:

Under the agreement, Nordson will acquire Atrion for $460 per share in cash, representing a premium of 6.90% from the stock’s last 30-day average.

Company Profile:

Atrion is a manufacturer of advanced medical products for fluid delivery, cardiovascular care, and ophthalmic applications. Atrion’s EV/EBITDA (TTM) ratio stands at 20.59, above the sector median of 15.60.

Nordson, on the other hand, is a precision technology company that engineers and manufactures solutions for dispensing, coating, and processing in diverse industrial and medical markets.

Deal Synergies:

Atrion’s portfolio consists of three key businesses that will expand Nordson’s addressable market in infusion and cardiovascular therapies:

• Halkey Roberts is an infusion fluid delivery solution, 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.

“Atrion’s three FDA-registered design and manufacturing facilities – located across the United States, will be important additions to Nordson MEDICAL,” said Stephen Lovass, executive vice president of the Nordson Medical and Fluid Solutions segment.

Deal Metrics:

For a detailed review of the metrics associated with this acquisition, follow the link below:

In-depth Metrics for the Nordson Corporation and Atrion Corporation Acquisition

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Editor’s Note: Baranjot Kaur contributed to this article