In Brief: Advanced Medical Inc.
This article was originally published in The Gray Sheet
Advanced Medical Inc.: Firm's Imed subsidiary enters an agreement to re-acquire European marketing rights to its intravenous infusion pumps and related disposable administration sets from Pharmacia & Upjohn, whose Kabi Pharmacia unit has distributed the products under a 1991 deal. Under the new agreement, expected to close by Aug. 30, 1996, Imed will pay roughly $11 mil. for the European distribution business. "On an annualized basis, we expect this transaction to increase sales and operating income by approximately $7 mil. and $2.5 mil., respectively," Advanced Medical says. Separately, Advanced Medical acquires from GE Capital a warrant to purchase, "for a nominal amount," 10% of Imed's outstanding common stock. American Medical pays $12.5 mil. for the warrant, which was issued to GE Capital in 1990 in connection with a leveraged buyout of Imed...
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