CAE Healthcare acquires METI for $130M
CAE Healthcare, a developer of medical education simulators and software based in Montreal, has purchased Medical Education Technologies (METI), which previously competed in the same market space, for $130 million.
“With this acquisition, our new core markets segment, comprised of CAE Healthcare and CAE Mining, achieves greater critical mass. We expect this segment to achieve more than $121.1 million of revenue and to be profitable in fiscal 2013,” said Marc Parent, CAE president and CEO, in a statement.
Michael Bernstein, CEO of the Sarasota, Fla.-based METI, will transition to president of CAE Healthcare.
“With this acquisition, our new core markets segment, comprised of CAE Healthcare and CAE Mining, achieves greater critical mass. We expect this segment to achieve more than $121.1 million of revenue and to be profitable in fiscal 2013,” said Marc Parent, CAE president and CEO, in a statement.
Michael Bernstein, CEO of the Sarasota, Fla.-based METI, will transition to president of CAE Healthcare.