Encore Medical now private:
This article was originally published in Clinica
Encore Medical's shares have ceased trading on Nasdaq after the company completed a buy-out backed by private equity group Blackstone Capital Partners. The $887m transaction, announced in June (see Clinica No 1213, p 15), was approved on November 2 at a special meeting of stockholders, who will receive $6.55 cash per share of common stock held. The deal was financed by equity contributed by Blackstone, cash on hand, credit facilities and new notes. Blackstone director Chinh Chu becomes chairman of the Austin, Texas-based orthopaedic device maker.