Allied Capital Announces the Purchase of Insight Pharmaceuticals Corporation.WASHINGTON -- Allied Capital Corporation (NYSE NYSE See: New York Stock Exchange :ALD ALD abbr. adrenoleukodystrophy ALD, n.pr See adrenoleukodystrophy. ALD aldolase. ) announced it completed the buyout of Insight Pharmaceuticals Corporation on December 31, 2004. Allied Capital's investment in Insight Pharmaceuticals totals approximately $155 million, including debt securities and all of the outstanding stock of the company. Additionally, Allied Capital has committed approximately $5 million in financing that can be drawn upon by the company. Insight Pharmaceuticals is a leading marketer and distributor of well-known, over-the-counter pharmaceutical products. The company's portfolio consists of 20 diverse brands that provide relief from cough/cold, pain, allergy, and other common ailments. The products are sold through an extensive network of drug, mass, food, dollar, and convenience stores and wholesalers. "Insight Pharmaceuticals is a solid business with well-established products, strong brand equity, and loyal consumers," said John Shulman, Managing Director of Allied Capital. "We are excited to have recruited Jeff Nugent as Insight Pharmaceuticals' new President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . With more than 25 years of experience in consumer packaged goods businesses, including prior roles as CEO, we believe Jeff will build long-term value going forward. The buyout of Insight Pharmaceuticals represents another key investment within consumer products, a sector of strategic focus for Allied Capital," added Shulman. Allied Capital had previously invested $10 million of debt securities in Insight Pharmaceuticals, which was repaid in May 2004. Sawaya Segalas & Co. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a leading consumer products investment banking firm, served as exclusive financial advisor to Insight Pharmaceuticals Corporation. About Allied Capital Allied Capital Corporation, a leading business development company with total assets of more than $3 billion, has paid regular, quarterly cash dividends to shareholders since 1963. Since its IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. in 1960, the company has been providing long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. and equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. primarily to private, middle market companies. Allied Capital's business is to generate solid total returns from a diversified private equity and commercial real estate portfolio that invests in the American entrepreneurial economy. In serving its 138,000 shareholders, Allied Capital helps build American companies and support American jobs. The Company's private finance portfolio includes investments in over 100 companies with aggregate revenues of in excess of $11 billion, supporting more than 100,000 jobs. Headquartered in Washington, DC, Allied Capital offers shareholders the opportunity to participate in the private equity industry through an investment in the Company's New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Stock Exchange-listed stock, which is traded under the symbol ALD. For more information, please visit www.alliedcapital.com, call Allied Capital investor relations Investor relations The process by which the corporation communicates with its investors. toll-free at (888) 818-5298, or e-mail us at ir@alliedcapital.com. For all media inquiries, please call (202) 331-1112. About Insight Pharmaceuticals Corporation Headquartered in Blue Bell, PA, Insight Pharmaceuticals Corporation was formed to acquire and market brands in the over-the-counter pharmaceutical industry. Many of its products are well-known brands, such as Anacin, Sucrets, Nix, Bonine, Ting, Cepastat, Fiberall, Nostrilla, Allerest, Aspergum, and N'ICE. The company's top customers include WalMart, Walgreens, Amerisource, CVS (1) (Concurrent Versions System) A version control system for Unix that was initially developed as a series of shell scripts in the mid-1980s. CVS maintains the changes between one source code version and another and stores all the changes in one file. , Rite Aid, McKesson, Albertson's, and Kroger. For more information, please visit www.insightpharma.com Forward-Looking Statements The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are enumerated This term is often used in law as equivalent to mentioned specifically, designated, or expressly named or granted; as in speaking of enumerated governmental powers, items of property, or articles in a tariff schedule. in Allied Capital's periodic filings with the Securities and Exchange Commission. |
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