Advertisement
YOU ARE HERE: LAT HomeCollections

CALIFORNIA | HEALTH | THE STATE

Swedish Firm Offers $1.6 Billion for Vivra

May 06, 1997|(Bloomberg News)

Incentive has agreed to buy Vivra Inc. for $1.6 billion, or $35.62 a share, in cash, furthering the drive of Sweden's Wallenberg family into high-growth technology businesses. Incentive, one of the Wallenbergs' main investment companies, will merge San Mateo-based Vivra into its wholly owned Gambro, making the combined companies the No. 2 dialysis services firm in the world. The transaction comes amid a wave of acquisitions in the dialysis industry, as companies try to compete with Fresenius Medical Care, the world's largest provider of dialysis care. As part of the agreement between Incentive and Vivra's board, Vivra will sell its disease management unit, reducing the net cost of the acquisition to $1.52 billion. The Incentive offer is 26% higher than Vivra's Friday closing price of $28.25. Vivra shares rose $6.75 to close at $35 on the New York Stock Exchange.

Advertisement
Los Angeles Times Articles
|
|
|