For Immediate Release
May 1, 2009
Ewing Bemiss & Co. Announces the Divestiture of Precept Medical Product's Surgical Drape and Gown Division
Richmond, Virginia – Ewing Bemiss & Co. is pleased to announce that Precept Medical Products, Inc. (“Precept”) has completed the divestiture of its UltraGard Surgical Pack, Drape and O.R. Gown business to Medline Industries, Inc. (“Medline”). Terms of the transaction were not disclosed. Ewing Bemiss & Co. acted as the exclusive financial advisor to Precept in this transaction.
UltraGard manufactures a full line of surgical packs, drapes and gowns for use predominantly in sterile medical procedures by surgeons, physicians, nurses and other medical professionals. UltraGard markets its products to custom procedure tray assemblers and directly to hospitals and surgery centers. The division’s products have been sold since the 1970s, originally marketed under the White Knight® brand and under the UltraGard™ brand since 1998.
Precept Medical Products, Inc. designs, manufactures and markets non-woven disposable protective apparel that addresses infection control challenges facing the healthcare industry. Precept® brand products include a complete line of surgical facemasks, isolation gowns and other complementary products that offer healthcare professionals the best balance of comfort, protection and convenience. Precept is headquartered in Arden, North Carolina.
Medline Industries, Inc. manufactures and distributes medical products and healthcare supplies to hospitals, extended care facilities, surgery centers, home care dealers and other various markets. Headquartered in Mundelein, Illinois, Medline is the nation’s largest privately held healthcare product manufacturer and distributor, and has operations in more than twenty countries.
Ewing Bemiss & Co. is an investment bank focused on delivering superior service and optimal results to middle market companies. Since its founding in 1992, Ewing Bemiss & Co. has given clients across a broad range of manufacturing and services sectors the benefit of its extensive transaction experience and strong relationship orientation. Ewing Bemiss & Co.'s core services include: Merger and Acquisition Advisory, Private Capital Formation, Financial Restructuring and Strategic Advisory.
Ewing Bemiss & Co. is widely recognized for in-depth sector knowledge and expertise developed through proactive research, years of dedicated service and the development of strong relationships with sector participants in several industries, including Healthcare, Business & Technology Services, Energy and Transportation & Logistics. For more information, please visit www.ewingbemiss.com.