Sunrise Medical Goes Private

Feb 1, 2001 12:00 PM, Richard Park

New York

Sunrise Medical is now a private company. The Carlsbad, Calif.-based manufacturer was delisted from the New York Stock Exchange after its merger with VSM Acquisition in December.

VSM is an entity created to purchase Sunrise's shares by a group of investors that includes members of Sunrise's senior management. VSM made a tender offer to purchase all outstanding shares of Sunrise's common stock at $10 per share in cash. Based on information provided by the Bank of New York, which served as depository, approximately 96.2 percent - or 21,519,946 - of the 22,359,218 common shares outstanding were tendered.