Printer Friendly

MEDIVATORS, INC. ANNOUNCES INTENT TO PURCHASE DISPOSAL SCIENCES, INC.

MEDIVATORS, INC. ANNOUNCES INTENT TO PURCHASE DISPOSAL SCIENCES, INC.
 MINNEAPOLIS, Nov. 19 /PRNewswire/ -- MediVators, Inc. (NASDAQ: MVAT) announced today the signing of a letter of intent to purchase assets of Disposal Sciences, Inc. (DSI) of Denver, for $2,900,000, consisting of $900,000 in cash, common stock, the assumption of certain vender payables and a $2,000,000 contingent payment based upon profits. DSI has developed and is currently manufacturing and selling a sharps disposal system for use in hospitals and other healthcare facilities. DSI sold its first system in late 1990 and has sold over 200 systems which have generated nearly $1,000,000 in sales and has a $1,400,000 backlog for delivery during the first half of 1992. DSI's sharps disposal system is a compact device designed for the point-of-use destruction and decontamination of most types of disposable sharps waste including syringes, scalpels, razor and IV needles. DSI's sharps disposal system provides significant economic savings; eliminates syringes and needles at point of use and decreases needle sticks; kills all pathogens including AIDS and Hepatitis B; and reduces the environmental impact of medical waste disposal.
 Don Sturtevant, president and CEO, stated, "We intend to become an aggressive participant in the $1.6 billion infection control market and the acquisition of DSI represents a significant step in our program. The goal of MediVators is to provide innovative, safe, cost-effective and reliable equipment and devices for infection control. The acquisition of DSI fits into our growth strategy. We expect DSI will increase revenues of MediVators by over 100 percent in 1992 and will have a positive effect on net income for the year," stated Curtis Luebke, chairman of the board. The transaction is subject to the execution of a definitive agreement, completion of due diligence and approval by the boards of directors of both organizations.
 MediVators designs, manufactures and markets disinfection systems for flexible endoscopes and other related products.
 -0- 11/19/91
 /CONTACT: Curtis D. Luebke, chairman of the board, or Donald L. Sturtevant, president and CEO of MediVators, Inc., 507-263-4721/
 (MVAT DSI) CO: MediVators, Inc.; Disposal Sciences, Inc. ST: Minnesota, Colorado IN: MTC SU: TNM AL -- MN010 -- 4964 11/19/91 12:48 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 19, 1991
Words:368
Previous Article:CENTEL TO CLOSE INFORMATION SYSTEMS UNIT
Next Article:SARA LEE COMPLETES ACQUISITION OF PLAYTEX APPAREL
Topics:


Related Articles
MEDIVATORS, INC. ANNOUNCES INTENT TO PURCHASE DISPOSAL SCIENCES, INC.
MEDIVATORS ANNOUNCES THE ACQUISITION OF DISPOSAL SCIENCES
MEDIVATORS, INC. FINANCIAL RESULTS
DISPOSAL SCIENCES, PREMIUM PLASTICS ENTER INTO A DISTRIBUTION AGREEMENT
MEDIVATORS, INC. ANNOUNCES EARNINGS
MEDIVATORS, INC. REPORTS FDA APPROVAL
MEDIVATORS, INC. REPORTS CLOSURE OF PRIVATE PLACEMENT
MEDIVATORS, INC. REPORTS SECOND QUARTER RESULTS
MEDIVATORS ANNOUNCES NEW VICE PRESIDENT OF SALES AND MARKETING
MEDIVATORS ADDS NEW OUTSIDE DIRECTOR

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters