Universal Hospital Services, Inc. ("UHS"), a leading provider of medical equipment management and service solutions, today announced the completion of its acquisition of Emergent Group Inc. ("Emergent Group") (NYSE Amex LLC: LZR) and its wholly owned subsidiary, PRI Medical Technologies, Inc. ("PRI Medical"), a leading provider of mobile medical lasers and surgical equipment. The combined companies will take a leadership role in reducing costs and improving outcomes for hospitals and surgery centers.
UHS announced yesterday the successful completion of its tender offer to purchase the outstanding shares of common stock of Emergent Group, which expired on Wednesday, March 30, 2011. UHS today consummated the short-form merger, and Emergent Group became a wholly owned subsidiary of UHS.
"The acquisition of PRI Medical marks a significant step for UHS to expand our health care solutions that help customers reduce costs, increase efficiencies and drive better outcomes," said Gary Blackford, Chairman and CEO of UHS. "PRI Medical's state-of-the-art laser technology and established commitment to world-class customer service provide a great opportunity to begin to grow and expand these services nationally to meet the growing needs of our customers."
PRI Medical currently operates in 16 states and provides surgical equipment and laser technology to hospitals, outpatient surgery centers and physicians' offices. The equipment is supplied with specialized technicians who support its proper operation and maintenance.
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