JACKSONVILLE, Fla. -- PSS World Medical, Inc. announces that it has entered into a definitive agreement to acquire 100 percent of the outstanding stock of Activus Healthcare Solutions, Inc., a California-based distributor of medical supplies to office-based physicians and ambulatory surgery centers in California, Oregon, Nevada, and Arizona. Activus generates $22 million in annual revenue and adds 14 sales representatives with an average tenure of more than19 years in fast-growing markets.
David A. Smith, chairman and CEO of PSS World Medical, Inc, commented, “We are excited about this very strategic acquisition for our Physician Business’ western markets. After Activus was formed by assembling a sales team from many of the leading physician distributors, they rapidly achieved a strong presence in these important, fast-growing markets. Our business in California is experiencing strong growth. The Activus sales team will accelerate our expansion, while they will benefit from a broader product offering, superior marketing programs and exclusive agreements with our supplier partners.”
All current Activus operations will be consolidated into the company’s facilities in Phoenix, Fullerton, Calif., and Sacramento. The acquisition is expected to reduce the Company’s earnings per share by approximately $0.01 in fiscal year 2008 due to transition and integration costs, but will be accretive to earnings within 12 months. Terms of the transaction were not disclosed.
PSS World Medical, Inc. is a national distributor of medical products to physicians and elder care providers through its two business units.
Source: PSS World Medical Inc.