Tag: Liberty Medical Supply
PE firm acquires Liberty Medical
November 21, 2014Theresa Flaherty, Managing Editor
PORT ST. LUCIE, Fla. - Palm Beach Capital outbid 32 other parties to acquire Liberty Medical for $22 million above its asking price—a “stunning” result, say industry analysts.“If there are that many people bidding, clearly there's value in what they are doing and a lot of people think there's a platform there to grow a business,” said Patrick Clifford, managing director at The Braff Group. “It's stunning.”Liberty in October proposed selling the majority of...
Liberty sale successful
November 18, 2014HME News Staff
PORT ST. LUCIE, Fla. - A federal bankruptcy judge last week approved the $68.5 million sale of Liberty Medical Supply, according to Law360. The buyer: Palm Beach Capital, a private equity firm. Liberty had proposed selling the majority of its assets in a stalking horse auction with a minimum bid of $46.5 million. Liberty Medical filed for Chapter 11 bankruptcy protection in February 2013.
Liberty positions itself for sale
October 31, 2014Theresa Flaherty, Managing Editor
PORT ST. LUCIE, Fla. - A bankruptcy judge has approved a stalking horse bid for the assets of Liberty Medical.Liberty, which filed for Chapter 11 bankruptcy protection in February 2013, has proposed a sale of the majority of its assets in a stalking horse auction with a minimum bid of $46.5 million—$13 million in cash and $33.5 million in assumed liabilities—according to court documents. If there are competing bids, an auction would take place Nov. 7.“This is an ideal situation...
Liberty Medical files for bankruptcy
February 19, 2013HME News Staff
PORT ST. LUCIE, Fla. - The changes at Liberty Medical Supply are happening at a dizzying speed.
Just months after a group of company execs bought Liberty Medical from its parent company, they filed for Chapter 11 bankruptcy on Feb. 15, according to news reports.
In its filing, Liberty Medical cites between $100 million and $500 million in both assets and liabilities, and between 1,000 and 5,000 employees. It lists several unsecured creditors with disputed claims, including CGS Administrators,...