PELHAM MANOR, N.Y. - Micro Bio-Medics Inc. said it signed a credit agreement with Chase Manhattan Bank and Fleet Bank for a $25 million credit facility that completes financing for acquiring the assets and customer accounts of Clark Surgical Corp.
The company said it had signed a definitive purchase agreement with Clark.
As previously reported, Micro Bio-Medics will pay between $15 million and $20 million in the transaction.
The company said the acquisition would "substantially increase" its market share in the New York metropolitan area.
When combined with internal growth, the company said, the deal should double annual revenue to more than $120 million, compared with the $61 million the company reported for its fiscal year ended Nov. 30.
