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Financings in Brief: Physician Sales & Service

This article was originally published in The Gray Sheet

Executive Summary

Physician Sales & Service: Medical supply distributor files registration statement with the Securities and Exchange Commission for an offering of 8.4 mil. shares of common including 2.4 mil. shares to be offered by selling shareholders. The number of offered shares reflects a three-for-one stock split effected Sept. 22 and distributed Oct. 5. Proceeds will go toward debt repayment "and for general corporate purposes, including possible future acquisitions," the Jacksonville, Florida-based firm states. PSS recently completed a stock-swap merger with Taylor Medical, a competitor in the physician supply market. The Taylor Medical merger was announced by PSS in April ("The Gray Sheet" April 17, In Brief). Alex. Brown & Sons, Smith Barney, Wheat First Butcher Singer, and Needham & Co. are managers for the offering...

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