BrainZ Instruments [ASX: BZI] is to be acquired by the US-based Natus Medical for NZ$1.3 million [AUD$1.13 million].

Pending shareholder approval, Natus will acquire essentially every trading asset of BrainZ - including products, IP and brand – except the company's cash reserves.

If the arrangement goes ahead, Natus will assume a number of the company’s distribution and customer support obligations.

BrainZ has developed a bedside brain monitoring technology that assists in the detection of brain injury and seizure activity in neonates.