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Slide #74. Inteplast Group — Medegen and Certain Other Assets of Its Patient Care Business Unit
Medegen and Certain Other Assets of Its Patient Care Business Unit (MDCI)
Medical Action Industries Inc. (Nasdaq:MDCI) (the "Company" or "Medical Action"), announced today that it has signed a definitive agreement to sell its Medegen Medical Products, LLC subsidiary and certain other assets of its Patient Care business unit to Medira Inc., an affiliate of Inteplast Group, Ltd. ("Inteplast"), for approximately $75 million, subject to certain purchase price adjustments. The transaction is expected to close upon receipt of the required regulatory approvals and the satisfaction of other closing conditions agreed to by the parties. The Company anticipates completion of these regulatory approvals and closing conditions within three to four months.
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