ATI Medical Takes Over Hospital-Bed Supplier SMI
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ATI Medical in Glendale completed its acquisition of SMI, which rents out specialty hospital beds, for ATI Medical stock valued at about $8.9 million.
ATI Medical, which rents out medical equipment to hospitals and the entertainment industry via 44 offices around the nation, acquired privately held SMI in exchange for 1.35 million shares of ATI’s common stock.
Last year, SMI earned $955,000 on revenue of $17.4 million. In the nine months ended April 30, ATI Medical reported a profit of $870,965 on revenue of $18.5 million. The company expects its full-year revenue to reach $25 million.
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