Baxter/Intramed
This article was originally published in The Gray Sheet
Executive Summary
Enter definitive merger agreement under which Intramed will become part of Baxter's Vascular Systems Division. Baxter will pay approximately $9.7 mil. ($2.72 per Intramed share) in Baxter stock for the San Diego manufacturer of flexible and rigid single- use endoscopes. The deal is expected to close by the end of May. As part of the agreement, two Intramed directors, Pieter Halter and Stephen Sosnowski, will resign from the board; replacements will be named by Baxter. For 1993, Intramed had sales of $3.1 mil. (down 5.6%) and a net loss of $2.1 mil