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Maxxim Medical finally gets Sterile Concepts

This article was originally published in Clinica

Executive Summary

After more than three months of negotiations, Maxxim Medical has finally signed a merger agreement with Sterile Concepts. In a deal worth some $147 million, including assumption of debt, Maxxim will pay $20 for each of Sterile Concepts' outstanding shares - compared with the initial offer of $16 per share which valued the deal at around $118 million (see Clinica No 695, p 13). Salomon Brothers analyst Eli Kammerman believes the price to be fair in view of Sterile Concepts' losses in fiscal 1996.

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