Today’s issue of WorkCompRecap features some M&A news with the recent announcement from PMSI and Progressive Medical that they have entered into a definitive merger agreement. The new company will be lead by Executive Chairman Eileen Auen from PMSI and Co-CEOs Emry Sisson and Tommy Young from Progressive Medical. The deal is expected to close in the fourth quarter, subject to regulatory clearance.
Funds managed by Kelso & Company have agreed to acquire a significant ownership stake in the combined company, and StoneRiver Group, the controlling shareholder of Progressive Medical, will continue to be a significant shareholder in the combined business.
Find out more by clicking here!