Possis Medical, Inc.
This article was originally published in The Gray Sheet
Executive Summary
Completing the transition to a pure-play medical device company with the planned sale of its industrial waterjet subsidiary Jet Edge. Jet Edge is the last of Possis' non-medical businesses, which were targeted for divestiture by the board of directors in 1990. The sale of the subsidiary to material handling equipment manufacture TC/American Monorail, Inc. is expected to close at the end of January. To reflect its medical device focus, the Minneapolis-based company changed its name from Possis Corp. in December