After initially pursuing merger and acquisition options as part of its March court receivership proceedings, Korean ultrasound vendor Medison had elected to remain an independent company. Medison did receive acquisition proposals from potential bidders, including a consortium and several foreign and domestic firms, according to the Seoul-based firm.
The acquisition terms, however, were not suitable to meet "minimum benefit requirements," according to the company. In addition, Medison cited a turnaround in the diagnostic ultrasound market, a renewed competitive position, and strengths in focus as a result of shedding "redundancies and nonfundamental commerce activity." Medison also said that it turned in strong sales revenue in the first half and that it would "strategically expand globally competitive alliances."
By AuntMinnie.com staff writers
August 12, 2002
Related Reading
Medison plans recovery, March 27, 2002
Medison defaults on loan repayment, February 5, 2002
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