Ametek (NYSE:AME), a Pennsylvania electronics business, has acquired eye-disease device maker Reichert Technologies in a $150 million deal that boosts its position in the medical device business.
It purchased the company from Chicago-based private equity firm Beecken Petty O’Keefe & Co.
“The acquisition of Reichert Technologies adds significantly to our position in the medical market and provides us with another adjacency to grow in this attractive market segment,” said Frank S. Hermance, Ametek chairman and CEO.
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The move follows Ametek’s $25 million purchase of medical-device components company Avicenna Technology Inc. in April, giving it integrated capabilities for the catheter, cardiac and neurostimulation markets, Hermance said.
Last year, Jerry C. Cirino, the former CEO of medical transcription company, Heartland Information Services, moved to Reichert, both of were owned by Beecken Petty O’Keefe. Heartland has since been acquired by Transcend.
