Novanta Inc. (NASDAQ: NOVT), a trusted technology partner to medical and advanced technology equipment manufacturers, announced today the closing of its acquisition of World of Medicine GmbH for €115 million in cash.

World of Medicine, based in Berlin, Germany, is the leading supplier to original equipment manufacturers ("OEMs") of regulatory controlled medical insufflators, pumps, and related disposables for the minimally invasive surgical market. The business operates as a full service provider to OEMs by developing customized solutions for mission critical applications, and by providing clinical validation, regulatory approval support, training and product servicing.

The Company financed this acquisition with its amended and restated credit facility. World of Medicine's revenue and profit contribution to Novanta's second half and full year 2017 financial results will be announced as part of Novanta's second quarter 2017 earnings release.

"We are very excited about the acquisition of World of Medicine, which accelerates our strategy of increased presence in medical end markets. This acquisition aligns well with our strategic priorities, and is expected to create substantial and lasting value for Novanta," said Matthijs Glastra, Chief Executive Officer of Novanta Inc.

About Novanta

Novanta is a leading global supplier of core technology solutions that give healthcare and advanced industrial original equipment manufacturers ("OEMs") a competitive advantage. We combine a deep expertise of photonics, vision, and motion technologies with a proven ability to solve complex technical challenges. This enables Novanta to engineer core components and sub-systems that deliver extreme precision and performance, tailored to our customers' demanding applications. We deliver highly engineered photonics, vision and precision motion solutions to customers around the world. The driving force behind our growth is the team of innovative professionals who share a commitment to innovation and customer success. Novanta's common shares are quoted on NASDAQ under the ticker symbol "NOVT".

More information about Novanta is available on the Company's website at www.novanta.com.