Graham-Field sold for $28 million
April 14, 2003
ATLANTA - A group of bond holders who were owed money by Graham-Field Health Products purchased the company at auction April 9 for $28 million. Invacare, which tendered a $25 million bid, was the only other entity to make a play for the hard-luck manufacturer and distributor of medical equipment and supplies.
The winning bidders were expected to close on the sale April 30. An attorney representing the sellers said the purchasers has not yet decided who would manage the company.
Graham-Field’s current chief restructuring officer, Mark Stead, said the company’s customers could expect a seamless transition under the new owners.
For more on this story, see the May issue of HME News.