GSI Group Inc. (Nasdaq: GSIG) is buying Jadak Technologies Inc. and Jadak LLC for about $94 million.
Jadak, headquartered in Syracuse, N.Y., develops barcode components and scanners, machine vision cameras, magnetic stripe readers and associated software.
The acquisition should help GSI, which focuses on lasers and optical-control devices, expand in the medical market. "JADAK is a leading supplier of camera-based technologies, which reduce medical errors and enhance safety in a wide range of medical equipment," says John Roush, CEO of GSI.
Other recent medical device deals include Intuitive Surgical Inc.'s (Nasdaq: ISRG) acquisition of Luna Innovations Inc.'s (Nasdaq: LUNA) shape-sensing technology,which is used for medical applications, and AtriCure Inc.'s purchase of Endoscopic Technologies Inc.