Business Services Industry
Orange, Calif.-Based Drug Distributor Sells Medical Supply Unit.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, June, 2000 by Wolfson, Bernard J.
Jun. 27--ORANGE, Calif.--Bergen Brunswig Corp., saddled with debt and struggling with the corrosive effects of two ill-fated acquisitions, said Monday that it will sell its medical and surgical supply company to its rival and one-time suitor, Cardinal Health Inc.
Allegiance Corp., a subsidiary of Ohio-based Cardinal, will pay $181 million in cash for Bergen Brunswig Medical Corp., which distributes supplies such as surgical gloves and syringes to hospitals and medical offices. Bergen Brunswig said it will use the money to pay a portion of its $1.5 billion in outstanding debt.
With the sale, Bergen is essentially exiting the medical-surgical supply business to concentrate on selling drugs.
"This allows us to get back to our core business, which...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
Presented by American Express