SonoSite garners ATL cash

SonoSite of Bothell, WA, last month received $12 million from former parent company ATL Ultrasound, also of Bothell. The payment terminates ATL's financial obligations to SonoSite under the conditions of the 1998 agreement that established SonoSite as an independent company (SCAN 4/15/98). SonoSite received an initial cash influx of $18 million from ATL at the time of spin-off. ATL has been a subsidiary of Philips since July 1998, when the company agreed to sell to Philips for $800 million (SCAN 8/5/98).