PFIZER SIGNS AGREEMENT TO SELL DEKNATEL
PFIZER SIGNS AGREEMENT TO SELL DEKNATEL NEW YORK, Nov. 11 /PRNewswire -- Pfizer Inc (NYSE: PFE) said today
it has agreed to sell the Deknatel business of Pfizer Hospital Products Group to Deknatel management and outside investors. Headquartered in Fall River, Mass., Deknatel produces chest drainage systems, autotransfusion devices, sutures and other cardiovascular specialty products.
The transaction, expected to be completed by year's end, would have no significant impact on Pfizer's financial results. Terms were not disclosed. Edward C. Bessey, Pfizer executive vice president, said, "We are pleased that current management has elected to buy the business. We feel that this will be in the best interests of the employees and bodes well for the future of Deknatel." Deknatel employs about 750 people worldwide with manufacturing locations in Fall River; Coventry, Conn.; Germany; and France. Bessey said the action is in line with a plan announced in July to divest Pfizer Laser Systems, Deknatel and certain of the Shiley product lines. Pfizer Laser Systems was sold earlier this year, and Pfizer is in discussions with a number of companies regarding the sale of certain Shiley product lines. -0- 11/11/91 /CONTACT: A. A. Biesada, 212-573-2055, or Rick Honey, 212-573-2051, both of Pfizer/ (PFE) CO: Pfizer Inc; Deknatel ST: Massachusetts, New York IN: MTC SU: TNM GK -- NY053 -- 3086 11/11/91 14:09 EST
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|Date:||Nov 11, 1991|
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