MALLINCKRODT MEDICAL INCREASES STAKE IN MALLINCKRODT IBERICA S.A.
MALLINCKRODT MEDICAL INCREASES STAKE IN MALLINCKRODT IBERICA S.A. ST. LOUIS, June 26 /PRNewswire/ -- Mallinckrodt Medical, Inc., has increased its ownership of a joint venture company that distributes Mallinckrodt nuclear medicine products in Spain. Terms of the acquisition were not disclosed. The St. Louis-based medical products company has acquired an additional 35 percent of Mallinckrodt Iberica S.A., raising its total stake in the joint venture to 85 percent. The remaining 15 percent is owned by Laboratorios Farmaceuticos Rovi S.A., based in Madrid. Mallinckrodt Iberica is the exclusive distributor of Mallinckrodt Medical radiopharmaceutical products in Spain. These products are used by nuclear medicine physicians to obtain diagnostic images of the body's organs and blood vessels. Ray Holman, president of Mallinckrodt Medical, said the company has enjoyed a good relationship with Laboratorios Farmaceuticos Rovi since beginning the joint venture in l969. "The decision to increase our ownership position is consistent with Mallinckrodt Medical's strategy of globalization by strengthening our position in key international markets," he said. Robert G. Moussa, senior vice president and group executive for Mallinckrodt Medical, noted that the company holds a significant market position in Europe, and that Spain is the world's seventh largest market for medical products. Mallinckrodt Medical is a world leader in the nuclear medicine field and also produces medical products used in radiology, cardiology, anesthesiology and critical care procedures. The company is a business unit of IMCERA Group Inc. (NYSE: IMA), located in Northbrook, Ill. -0- 6/26/92 /CONTACT: Randy Myers of Mallinckrodt Medical, 314-982-1700, or Dave Prichard of IMCERA Group, 708-205-2270/ (IMA) CO: Mallinckrodt Medical Inc.; IMCERA Group Inc. ST: Missouri IN: MTC SU: TNM
TQ -- NY020 -- 4149 06/26/92 10:37 EDT
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|Date:||Jun 26, 1992|
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