OSHKOSH, Wis. (AP) - Heavy-duty truck manufacturer Oshkosh Truck Corp. said Friday it agreed to buy a unit of medical device maker HealthTronics Inc. that makes mobile homeland security, medical and broadcast vehicles.
The cash deal to buy AK Specialty Vehicles was valued at about $140 million, according to Oshkosh Truck.
It will allow the Oshkosh-based company to further expand into new truck markets, including the medical and military sectors, said chairman, president and CEO Robert Bohn. The new lines will especially complement Oshkosh's growing Pierce line, which makes homeland security vehicles.
''We are excited by the prospects for technology sharing between these two subsidiaries and the enhanced product offerings it can provide to our customers within the fire, police, government and military markets,'' he said in a news release.
HealthTronics, based in Austin, Texas, saw the sale as an opportunity to allow it to focus on its health care services business, company president and CEO Sam B. Humphries said in a news release. The company makes urological and medical devices in addition to transport vehicles.
The deal is expected to close next month.