Furon Buys a 94% Stake in Medical Plastics Company
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LAGUNA NIGUEL — Furon Co. said it has completed its tender offer for the outstanding common shares of Medex Inc., acquiring nearly 5.4 million shares, or a 94% stake in the medical plastics company, for $126.4 million in cash.
Medex, based in Hilliard, Ohio, had sales of $99.3 million for its fiscal year ended June 30, 1996. The company manufactures polymer-based critical care products and infusion systems for medical and surgical applications.
Furon, headquartered in Laguna Niguel, is an international manufacturer of polymer components for several markets, including health care. The company reported sales of $345 million for its fiscal year ended Feb. 3, 1996.
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