Edwards Lifesciences To Buy CAS Medical Systems In $100 Mln Deal

(RTTNews) - Edwards Lifesciences Corp. (EW) announced that it has entered into a definitive merger agreement to acquire CAS Medical Systems Inc. (CASM), a medical technology company dedicated to non-invasive monitoring of tissue oxygenation in the brain.

Edwards will acquire CAS Medical Systems in an all-cash transaction for $2.45 per share of Common Stock, or an equity value of approximately $100 million.

As a condition to the closing of the transaction, each holder of CASMED's Series A Convertible Preferred Stock or Series A Exchangeable Preferred Stock will agree to convert such stock into shares of CASMED's Common Stock, and upon the closing, those holders will be entitled to receive the transaction consideration as holders of Common Stock.

The acquisition is expected to close in the second quarter of 2019 and is subject to the satisfaction of customary closing conditions, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and approval by CASMED's stockholders.