Source: Sharecast
Under the terms of the acquisition, Intelligent Ultrasound shareholders will receive 13p per share in cash, which is a premium of about 16.9% to the closing price on Wednesday.
Surgical Science said Intelligent Ultrasound's Simulation Business is "particularly attractive due to its strong reputation for delivering high-quality training solutions that improve the skills of healthcare professionals".
It noted that Intelligent Ultrasound has developed a suite of products that are widely recognised for their effectiveness in ultrasound education, including realistic simulation scenarios and user-friendly interfaces.
"With a solid customer base in medical schools, hospitals, and training institutions, Intelligent Ultrasound is well-positioned to capitalise on the growing demand for advanced training solutions in the healthcare sector," it said.
Riccardo Pigliucci, non-executive chairman of Intelligent Ultrasound, said: "Recognising the difficulties of quickly achieving scale, combined with shareholders' strong preference for an efficient return of the majority of the proceeds from the sale of the Clinical AI Business, the Intelligent Ultrasound board believes that the sale to Surgical Science allows Intelligent Ultrasound to both efficiently return capital to shareholders, as well as providing the majority of employees and broader stakeholders with the advantage of joining a considerably larger, broad-based simulation focused business that we believe will provide the scale, resources and investment to be successful and sustainable in the global simulation market.
"As such, we believe that the time is opportune for the shareholders, employees and customers of Intelligent Ultrasound to take advantage of the opportunities being offered with Surgical Science and the Intelligent Ultrasound board is therefore unanimously recommending this deal to shareholders."
At 0940 GMT, Intelligent Ultrasound shares were up 12.5% at 12.52p.