Tokyo-based Toshiba Medical Systems Corp. will acquire medical imaging software vendor Vital Images of Minneapolis for $273 million.

The $18.75 per share price is 39 percent higher than the stock's average price during the past 30 calendar days. The companies expect the acquisition to close during the second or third quarters.

Vital Images sells diagnostic medical imaging visualization software, including 3D displays, vessel probing capability and creation of movies for presentations. The companies have been partners and Toshiba has been Vital Images' largest customer for a decade, says Michael Carrel, CEO of Vital Images. The sale to Toshiba will accelerate global growth, he adds.

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--Joseph Goedert


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