Financings in Brief: Triad Medical
This article was originally published in The Gray Sheet
Executive Summary
Triad Medical: Initial public offering of 4 mil. shares at $10-12 each is anticipated by the firm, according to a Sept. 11 filing with the Securities and Exchange Commission. The medical product contract sales and distribution concern plans to use anticipated proceeds of $37 mil. (assuming an IPO price of $11) to expand its product representation through the acquisition of local and regional contract sales and distribution companies, and for debt repayment, the firm states. Concurrently with the offering, Laguna Hills, California-based Triad will acquire 11 firms: Triad Holdings, Healthcare Technology Delivery, Sun Medical, Custom Medical Specialties, Kentec Medical, Products For Surgery, MegaTech Medical, Omni Medical, New England Medical Specialties, Professional Equipment and Wilson Medical Specialties, with pro forma 1996 revenues of $127.9 mil. Montgomery Securities, Smith Barney and Wedbush Morgan Securities are underwriters for the offering...
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