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Mediq

This article was originally published in The Gray Sheet

Executive Summary

Acquires KCI Medical Services for approximately $65 mil. in cash and $19 mil. principal amount of notes payable to KCI. The sale constitutes an addition to Mediq/PRN Life Support Services, Inc. of 44,000 pieces of equipment, which the company says will increase the diversity and size of its rental inventory for hospitals, nursing homes and home healthcare providers such as Abbey and Homedco. Completion of the acquisition is expected in September. In fiscal 1993, Mediq posted $175 mil. in sales, of which Mediq/PRN contributed $77 mil. The addition of KCI Medical Services is expected to add $45 mil. in "incremental rental revenues" this year

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