Compass Diversified (CODI) Enters Agreement to Sell Anodyne Medical Device
- Top 10 News for 9/19 - 9/23: Twitter on the Auction Block; Allergan Bolsters NASH Effort; Microsoft Returns Value
- Wall Street falls as energy lags; shares post gains on week
- Rumored Forever, Twitter (TWTR) May Have Finally Put the 'For Sale' Sign Up
- Facebook (FB) Shares Under Pressure on Reports Video Ad Metrics Were Artificially Inflated
- Brookfield Infrastructure (BIP)-Led Consortium to Take Controlling Stake in Petrobras' (PBR) NTS for $5.2B
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Compass Diversified Holdings (NYSE: CODI) announced that on September 21, 2016 it entered into a definitive agreement and consummated the sale of its majority owned subsidiary, Anodyne Medical Device, Inc., also doing business and known as Tridien Medical ("Tridien"), to Hill-Rom, Inc.
CODI does not expect to record a significant gain or loss as a result of the sale. The proceeds will be used to pay down outstanding debt under the Company's revolving credit facility.
"We have enjoyed working with the management team of Tridien and wish the company continued success in the future," said Alan Offenberg, CEO of Compass Diversified Holdings. "Moving forward, we will continue to utilize our solid balance sheet and considerable financial flexibility to pursue both attractive platform and add-on acquisitions that create long-term shareholder value while providing consistent cash distributions."
Additional information on the transaction will be available on the Company's current report on Form 8-K that will be filed with the Securities and Exchange Commission.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- SEC Charges Leon Cooperman, Omega Advisors with Insider Trading
- Palatin Technologies (PTN) Reports Audit Opinion with Going Concern Explanation
- Bellicum Pharma (BLCM) Presents Data from BPX-501 Trial at ESID Meeting
Create E-mail Alert Related CategoriesCorporate News, Spinoffs
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!