Movers and shakers: Linde, Medline
MUNICH, Germany – Linde AG has successfully placed a bond for 1 billion euros to help finance its acquisition of Lincare, the company announced Sept. 5.
The bond, which drew “huge demand” according to a press release, has a maturity of eight years and an interest rate of 1.75%.
"It is crucial to be able to act swiftly in a volatile market climate," stated Georg Denoke, a member of the executive board and CFO of Linde AG, in the release. "We were keen to quickly replace a substantial part of the acquisition loan with long-term capital market liabilities."
Denoke credited the successful placement of the bond to Linde's “excellent reputation” among investors.
Linde purchased Clearwater, Fla.-based Lincare for $4.6 billion in a deal completed Aug. 14. Under Linde’s ownership, Lincare has stated it plans to reduce its 1,000 locations by around 100 before July 2013 and ramp up ventures like NR monitoring (in-home testing for anti-coagulant therapy), pulmonary rehab and specialty pharmacy.
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Medline grows again
MUNDELEIN, Ill. – Medline plans to expand production at its new manufacturing facility for incontinence products due to increased demand, the company announced Sept. 12.
“As the population ages, there is more and more demand for products like our new FitRight brief, which help people manage their incontinence with dignity," stated Dan Love, president of Medline’s personal care products division, in a press release.
The 600,000-square-foot facility, which opened in Lithia Springs, Ga., earlier this year, has already increased capacity by 50%, according to the release. Medline has added 120 employees and plans to hire more.
It's been a year of growth for Medline. In July, the manufacturer acquired the personal hygiene business of Perrigo Company; and in August it partnered with Teleflex to distribute its Rusch line of specialty urological products.
Medline manufactures and distributes more than 125,000 products to hospitals, extended care facilities, surgery centers, physician offices and homecare providers.
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