Physiometrix to be acquired for $23M

Physiometrix Inc. of North Billerica will be acquired by Hospira Inc., one of the nation's largest hospital products manufacturers, for $23 million plus the assumption of the company's debt, about $1 million.

Physiometrix designs, manufactures and markets non-invasive medical products for use in anesthesia-monitoring during surgical procedures and in other medical settings, including the intensive care unit.

The company, which employs 40, generated $1.9 million in 2004 sales at the wholesale level primarily through a distribution agreement.

Physiometrix's portfolio of medical devices includes the PSA 4000, a real-time EEG (electroencephalogram), or brain-state monitor, that features disposable sensors and a proprietary measurement parameter - called the Patient State Index - that aids in monitoring the effects of anesthetic agents.

Hospira officials say the acquisition will broaden its portfolio of products for the hospital operating room and intensive care unit, providing anesthesia-monitoring devices used during surgical and diagnostic procedures.

Illinois-based Hospira employs 13,000 in 14 manufacturing sites worldwide.

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