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Zoll Closes Acquisition of Sleep Apnea Testing Specialist Itamar Medical.

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Japan-based chemical company Asahi Kasei's (OTC: AHKSY) US-based Zoll Medical Corp business, which manufactures medical devices and related software solutions, has completed its acquisition of US-based medical device and digital health company Itamar Medical Ltd. (NASDAQ: ITMR) (TASE: ITMR), the company said.

Itamar Medical provides at-home testing for sleep apnea.

Itamar Medical will operate as a business division within Zoll, and Gilad Glick, who previously served as Itamar Medical's CEO, will lead the division as its president.

Itamar Medical's principal operations in Caesarea, Israel will continue with no material changes to operations currently anticipated.

Moving forward, Zoll will focus on the continuity of Itamar Medical's business while using Zoll's global infrastructure and strong brand to accelerate and expand growth opportunities.

Zoll acquired all outstanding ordinary shares of Itamar Medical for USD 1.0333333 (equivalent to approximately NIS 3.24) per ordinary share, or USD 31 per American Depository Share, in cash (without interest, less any applicable withholding taxes and, in the case of ADSs, less applicable cancellation fees).

As a result, Itamar Medical's ordinary shares will cease to be traded on the TASE market and Itamar Medical will no longer have reporting obligations under applicable Israeli securities laws.

In addition, Itamar Medical has requested that trading of its ADSs on the NASDAQ Capital Market (NASDAQ) be terminated and...

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