Financings in Brief: Urohealth Systems
This article was originally published in The Gray Sheet
Executive Summary
Urohealth Systems: Costa Mesa, California-based manufacturer of the Cen-slide system for microscopic urine analysis and the Dristar product for incontinence, completes its stock acquisition of Dacomed Corporation. The deal gives Urohealth, formerly called Davstar Industries, several additional urological products, including the Dura II penile implant, the Rigiscan diagnostic product for rigidity, and the Catalyst vacuum device. Under the deal, Dacomed shareholders were issued 5.2 mil. shares of Urohealth stock. The merger, valued at about $19 mil., is Urohealth's second recent acquisition in the urology area. In another deal that closed near the end of July, the company issued 571,000 shares to acquire Allstate Medical, an incontinence products manufacturer. In separate news, Urohealth says it has issued to FoxMeyer Health Corporation $2.5 mil. in exchangeable convertible preferred stock, and warrants to purchase 2.4 mil. common shares, as FoxMeyer fulfills its commitment to invest $5 mil. in the company...