Cardinal Health buys stake in Viasys |
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Thu, 28 Jun 2007 14:52
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DUBLIN, Ohio (AP) - Medical products and services company Cardinal Health Inc. said Thursday it has acquired 88 percent of Viasys Healthcare Inc. through two tender offers, making it a subsidiary.Cardinal Health in May agreed to buy Viasys for about $1.42 billion, plus the assumption of $50 million in debt.Through two tender offers which expired June 20 and June 27, about 29.3 million shares of Viasys stock have been tendered for $42.75 per share, representing 88 percent of all outstanding shares, Cardinal Health said.Cardinal Health will complete the deal by converting each remaining share into the right to receive $42.75 per share, in cash, without interest.Cardinal Health expects to complete the deal shortly.Viasys, which recorded revenue of $610 million in 2006, develops respiratory care systems and medical devices used in neurological, audio and vascular diagnostics. After the deal, the company will be part of Cardinal Health's medical products manufacturing division.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Cardinal buys 80 percent of Viasys 