Alpine Biomed Holdings Corp., a Fountain Valley-based medical device maker, has been bought for $43.2 million by Natus Medical Inc. of San Carlos.
Natus, which makes devices for screening, detection and monitoring of diseases, including epilepsy, as well as for newborn care and sleep disorders, said this week it was buying Alpine in a bid to expand its neurology business.
Alpine makes medical devices that diagnose sleeping disorders and other neurological problems. Its products include Keypoint, for diagnosing carpal tunnel syndrome.
Natus said in a statement that buying Alpine affirmed its position in the neurology device market. Natus has annual sales of $162 million and a recent market value of $475 million.
Natus said that Alpine’s revenue totaled about $33 million in the 12 months through this June.
Alpine’s majority owner was Water Street Healthcare Partners LLC, a Chicago private equity firm with more than $1 billion under management. Water Street spent $50 million for a majority stake in Alpine in 2007.
Alpine also made medical devices for diagnosing digestive system disorders, but spun that business off earlier this month in a deal with Sierra Scientific Instruments LLC of Los Angeles.
