Allied Healthcare Products
This article was originally published in The Gray Sheet
Executive Summary
Completes acquisition of Toledo, Ohio-based B&F Medical Products for 640,000 shares of Allied common stock and an estimated $11.7 mil. in cash, "subject to certain adjustments," Allied announces. On Sept. 2, the last trading day before the announcement, Allied stock closed at $16 per share, making the total deal worth about $22 mil. B&F Medical manufactures plastic disposable medical products primarily for the home health care market. The company had net sales of approximately $23 mil. for the fiscal year ended April 30, with income from operations of $2.5 mil. St. Louis-based Allied, a manufacturer of medical gas equipment and respiratory therapy products, had net sales of $74.1 mil. for its fiscal year ending June 30 and net income of $7.3 mil