Advanced Technology Laboratories (ATL) was founded in 1969 by a group of engineers working on marine electronic systems. In 1974, ATL and the University of Washington signed the first of two technology transfer agreements (the second occurred in 1976) and began working in diagnostic medical ultrasound, manufacturing products for hospitals and physicians. As a result of its success, ATL was purchased by the Squibb Corporation in 1979 as part of Squibb’s new medical equipment subsidiary, along with SpaceLabs, Inc., a manufacturer of patient monitoring systems. However, ATL struggled to remain profitable under Squibb, and stock for ATL and SpaceLabs was distributed to Squibb shareholders in 1987, under the holding company Westmark International. In 1992, Westmark was dissolved when it split its two subsidiaries to form separate, publicly traded companies. SpaceLabs stock was distributed to shareholders, and Westmark International adopted the name Advance Technology Laboratories. In 1998, Philips Electronics purchased Advanced Technology Laboratories, now called ATL Ultrasound, and folded it into its subsidiary, Philips Medical Systems.

This issue of the company newsletter, ATL Wavelengths, announces the 1998 acquisition of ATL by Philips for $800 million.

Caption information source: “Advanced Technology Laboratories, Inc. History” at http://www.fundinguniverse.com/company-histories/advanced-technology-laboratories-inc-history/
Caption information source: “Philips To Buy Atl For $800 Million” by Greg Heberlein, Tyrone Beason, Seattle Times, July 29, 1998, retrieved at https://archive.seattletimes.com/archive/?date=19980729&slug=2763688