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Marquest Medical

This article was originally published in The Gray Sheet

Executive Summary

Completes financing agreement with Scherer Healthcare. Under the terms of the arrangement, which was agreed to in principle in January ("The Gray Sheet" Jan. 18, p. 11), Scherer will provide Marquest with $4.5 mil. through the guarantee of proposed mortgage debt. Scherer will provide an additional $4.5 mil. through a "sale and lease back and buy back transaction" involving Marquest's ABG blood gas analysis product line. The two firms also anticipate using a combination of Scherer and Marquest securities to refinance $12.5 mil. in Swiss bonds, on which Marquest is in default. If Scherer exercises all its warrants for Marquest stock and converts its bonds into the stock, it could own up to 65% of Marquest.



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