Birtcher Medical Systems Inc.: The struggling maker...
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Birtcher Medical Systems Inc.: The struggling maker of surgical supplies said Tuesday that it has signed an agreement to be acquired by a New York competitor in a stock swap valued at $16.4 million.
Birtcher’s definitive agreement with Conmed Corp., a manufacturer of disposable medical devices, would provide one-twelfth of a share of Conmed common stock for each share of Birtcher common stock, and one-half of a Conmed share for each share of Birtcher preferred stock.
Birtcher, based in Irvine, had been weighing a sale in the face of losses in recent years. Its merger deal with Conmed, contingent on shareholder approval, among other things, is expected to be closed in the first quarter next year.
Conmed, based in Utica, N.Y., also makes heart monitoring and other medical products used in hospital operating rooms. Birtcher makes a variety of electrosurgery equipment.
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