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Chemdex acquires medical supplier Promedix.com for $340mm
13 Oct 1999
Online medical supplier Chemdex (primarily supplies reagents to biotech and pharmaceutical researchers) has purchased medical equipment and supplies distributor Promedix.com for 12mm Chemdex shares, valued at approximately $340mm, or about $28 a share. The sale doesn't include Promedix's specialty medical product distribution business, which it will spin off prior to the transaction. Tenet Healthcare, a Promedix customer, has also agreed to make a $5mm equity investment in the company after the transaction closes.
Payment Includes Stock
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