Boston, MA 06/26/2014 (wallstreetpr) – Medical Action Industries (NASDAQ:MDCI) has agreed to be acquired by Owns & Minor Inc for $208 million. The deal calls for Owens & Minor to takeover all the outstanding shares of MDCI for $13.80 apiece. The acquisition price suggests a premium over the price of the stock before the announcement of the deal. Shares of MDCI gained more than 93 percent to hit $13.68 apiece on the back of the acquisition news.
The move to acquire Medical Action Industries (NASDAQ:MDCI) is the latest in a string of deals in the medical industry. The company provides burn dressings, newborn hats and surgical marking pens. It generated net sales of $287.8 million in its fiscal ended March 31. Owens & Minor is a distributor of surgical and medical supplies, is the largest customer of MDCI whose purchases account for about 45 percent of net sales in the company.
Aerie Pharmaceuticals Inc (NASDAQ:AERI) has moved an important step in bringing what the senior leadership calls a blockbuster treatment to the market. The company achieved extremely compelling Phase 2b study results with eye therapy dubbed Roclatan. The treatment was tried in 297 patients for more than 28 days and showed better results than the widely used and prescribed drug latanoprost. According to CEO Vicente Anido, the latest trial results create now hope for the glaucoma suffers and the company’s top line.
The company has begun preparations for the Phase 3 study of Roclatan. It expects to use its own sales force to market the drug in North America and sign distributors for the outside markets.
Insiders are buying Curry Gold Corp. (OTCBB:VOIL). The company’s Chief Executive Officer Rupert Ireland recently invested his own money to acquire 28 million shares of the company. The purchase boosted his direct stake in the company to 31 million shares. The shares have jumped significantly since the transaction and the shares are up 35 percent since the beginning of 2014.