Respironics, Inc. Acquires Apollo Light Systems, Inc., Expands into Circadian Rhythm Device-Based Therapy Market
Published: Oct 02, 2007
MURRYSVILLE, Pa., Oct. 2 /PRNewswire/ - Respironics, Inc. (Nasdaq: RESP - News) today announced that it has acquired 100% of the outstanding shares of Apollo Light Systems, Inc., a 20-year-old, privately held company and a leading manufacturer of light therapy systems for melatonin suppression and circadian rhythm sleep disorders. Operating under the name Apollo Health, the company is located in American Fork, Utah and has annual revenues of approximately $5 million. The base cash purchase price is $6.5 million, with provisions for additional payments to be made based on Apollo's operating performance over the next year. Total potential earn out payments are less than the base purchase price.