Universal Hospital Services (UHS) has signed an agreement to acquire Emergent Group and its wholly owned subsidiary, PRI Medical Technologies (PRI Medical), a provider of mobile medical lasers and surgical equipment for $8.46 per Emergent Group share in an all-cash transaction.
The total enterprise value of the transaction including debt assumption is approximately $70m.
PRI Medical currently operates in 16 states and provides surgical equipment and laser technology to hospitals, outpatient surgery centers and physicians’ offices.
UHS chairman and CEO Gary Blackford said PRI Medical will allow to expand their offerings into surgical equipment and services for their hospital and surgery center customers.
"It will enhance and expand our ability to meet our commitment to our customers to bring comprehensive solutions that reduce costs, increase efficiencies and drive better health care outcomes," Blackford said.