By Colin Kellaher

American depositary shares of Itamar Medical Ltd. rose more than 45% Monday after the medical-device maker agreed to be acquired by Zoll Medical Corp. for about $538 million.

Zoll, a unit of Japan's Asahi Kasei Corp., said it would pay $31 an ADS for Itamar, a roughly 50.2% premium to Friday's closing price for the Caesarea, Israel, company.

Zoll said it expects to complete the acquisition by the end of the year.

Itamar ADSs were recently up 45.8% to $30.10.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

09-13-21 1102ET