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Sarasota, Florida, June 6, 2011 … Roper Industries, Inc. (NYSE: ROP) today announced that it has completed the previously announced acquisition of Northern Digital, Inc., a leading provider of 3-D measurement technology for medical applications.
Headquartered in Waterloo, Ontario, Canada, Northern Digital provides optical and electromagnetic measurement systems for medical and industrial applications. NDI’s technology is used in the growing fields of computer-assisted surgery, computer-assisted therapy and image-guided radiation treatment. In addition, the Company’s technology is utilized by advanced manufacturers for optical tracking and non-contact 3-D measurements.
The all-cash transaction is valued at C$200 million and is expected to contribute more than C$20 million of EBITDA in the next twelve months. Northern Digital will become part of Roper’s medical platform within its Medical & Scientific Imaging segment. The Company expects the acquisition will be accretive to the Company’s earnings and cash flow.
“Northern Digital is an excellent addition to our medical platform with technology and applications to improve patient outcomes while increasing productivity for doctors and hospitals,” said Brian Jellison, Roper’s Chairman, President and CEO. “We welcome the Northern Digital team to Roper and look forward to working together to enhance the value of the business.”
About Roper Industries
Roper Industries is a diversified growth company and is a constituent of the S&P 500, Fortune 1000, and the Russell 1000 indices. Roper provides engineered products and solutions for global niche markets, including water, energy, transportation, medical, education, and SaaS-based information networks. Additional information about Roper is available on the Company’s website at www.roperind.com.
The information provided in this press release contains forward looking statements within the meaning of the federal securities laws. These forward looking statements include, among others, statements regarding operating results, the success of our internal operating plans, and the prospects for newly acquired businesses to be integrated and contribute to future growth and profit expectations. Forward looking statements may be indicated by words or phrases such as “anticipate,” “estimate,” “plans,” “expects,” “projects,” “should,” “will,” “believes” or “intends” and similar words and phrases. These statements reflect management’s current beliefs and are not guarantees of future performance. They involve risks and uncertainties that could cause actual results to differ materially from those contained in any forward looking statement. Such risks and uncertainties include our ability to integrate our acquisitions and realize expected synergies. We also face other general risks, including our ability to realize cost savings from our operating initiatives, general economic conditions, unfavorable changes in foreign exchange rates, difficulties associated with exports, risks associated with our international operations, difficulties in making and integrating acquisitions, risks associated with newly acquired businesses, increased product liability and insurance costs, increased warranty exposure, future competition, changes in the supply of, or price for, parts and components, environmental compliance costs and liabilities, risks and cost associated with asbestos related litigation and potential write-offs of our substantial intangible assets, and risks associated with obtaining governmental approvals and maintaining regulatory compliance for new and existing products. Important risks may be discussed in current and subsequent filings with the SEC. You should not place undue reliance on any forward looking statements. These statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.