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California: News and Insight on Business in the Golden
State : EnTrust Raises Stake in Sunrise Medical to
8.9% | THE STATE / HEALTH

March 11, 1998|Bloomberg News

EnTrust Capital Inc. raised its stake in Sunrise Medical Inc. to 8.9%. Between Jan. 7 and Monday, the New York-based private investment group bought a total of 1.73 million shares for about $26.8 million on behalf of clients, according to a Securities and Exchange Commission Schedule 13D filing. EnTrust wants Sunrise Medical management to continue its turnaround efforts, consider strategic ventures and add outside directors with industry experience. This is the first time the EnTrust group has filed Schedule 13D, which the SEC requires from investors that are in a position to influence a company's direction. Carlsbad-based Sunrise makes products used in rehabilitation and treatment of respiratory conditions. Sunrise shares fell 13 cents to close at $15 on the New York Stock Exchange.

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