Span-America Medical Systems said it acquired substantially all of the assets of M.C. Healthcare Products, a Canadian manufacturer of hospital beds and other medical products for the long-term-care market.
Span-America acquires hospital bed manufacturer
Span-America paid $8 million in cash and an additional 100,000 shares of common stock, according to a company news release. Span-America, based in Greenville, S.C., makes pressure-management products for healthcare organizations.
“We are excited about combining M.C. Healthcare with Span-America to leverage our product solutions and marketing opportunities in the long-term-care market,” Span-America Medical Systems President and CEO James Ferguson said in the news release. “We already sell to many of the same customers.”
M.C. Healthcare Products is based in Beamsville, Ontario. The company reported approximately $11.98 million in sales for fiscal 2011, ending July 31, and will operate as a division of Span Medical Products Canada.
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