Companies in the News
Companies in the News
Byram acquires Peiser’s
Byram Healthcare Centers (Greenwich, CT) has acquired Peiser’s (Chicago), a privately held medical supply provider. Byram, with revenues of more than $50 million, has now completed four acquisitions over the last twelve months, the company said.
Peiser’s, with annual revenues of $12 million, provides disposable medical supplies to home care patients.
Chemed increases stock repurchase program
Chemed’s (Cincinnati) board of directors has authorized an increase of $10 million for its stock repurchase program under which the company purchases Chemed shares in unsolicited, open-market transactions.
Coram trading on NASD’s OTC market
Coram’s (Denver) stock, effective last week, is trading on the National Association of Securities Dealers’ over-the-counter market under the symbol CRHE. The company’s former symbol was CRH, Coram said. The company added that it expects to be listed on the OTC Bulletin Board within the next few days.
As Coram previously announced, its stock was suspended from the New York Stock Exchange because the company does not comply with its requirements of at least $50 million in stockholders’ equity, $50 million in market capitalization, and a stock price of $1.
Respironics adds to sleep therapy products
Respironics (Pittsburgh) incorporated its new Encore SmartCard with a Functional Outcomes of Sleep Questionnaire (FOSQ) into its next generation sleep therapy CPAP and Smart CPAP systems. The Encore SmartCard is about the size of a credit card, the company said. When inserted into the side of Respironics’ sleep therapy systems, the Aria LX and Virtuoso LX, the SmartCard will record the patient’s therapeutic patterns of usage and the patient’s responses to a questionnaire that helps access the effectiveness of their therapy.
Simione stockholders approve MCS mergerM
Simione Central Holdings (Atlanta) has received approval from its stockholders for and has closed on the merger with MCS, formerly a wholly owned subsidiary of Mestek. MCS was spun off to Mestek’s stockholders and, following approval of the merger, was merged with and into Simone, the company said last week.
Upon closing of the merger, an additional $2 million was contributed to Simione by Mestek, and two short-term loans were canceled in return for newly issued series B preferred stock of Simione with voting rights, following a just-approved reverse stock split, equivalent to 2.2 million shares and a warrant for 400,000 post-split shares.
The proposal to allow the Simione board to effect the reverse stock split was just approved by Simione’s board. The split, one-for-five of its common stock, was effective March 7, Simione said.
The MCS merger agreement provides for the expansion of the Simione board to 12 members and the appointment of six new directors designated by the MCS stockholders.
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