Novacare (NOV) breaking out... Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Novacare (NOV) breaking out...

NOV 15.42

-5.1%

12:23 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Roo who wrote ()	7/2/1999 12:11:00 AM
From: TwoBear	of 420

NovaCare Completes Sale of Orthotics and Prosthetics Business to Hanger KING OF PRUSSIA, Pa., July 1 /PRNewswire/ -- NovaCare, Inc. (NYSE: NOV - news), a leading national provider of physical rehabilitation and employee services, announced today that it has completed the previously announced sale of its orthotics and prosthetics business to Hanger Orthopedic Group, Inc. (NYSE: HGR - news) for $445 million including cash proceeds of approximately $399 million and the assumption of $37 million of seller notes. NovaCare used $347 million of the proceeds to entirely retire its bank debt. NovaCare, Inc. is a national leader in physical rehabilitation and employee services. The company is the nation's second largest provider of outpatient physical rehabilitation and occupational health services with 623 locations in 31 states. Its subsidiary, NovaCare Employee Services Inc., is a leading national professional employer organization, administering the full array of human resource functions, including the management of health care benefits and workers' compensation, for small and medium-sized businesses.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next