Noteworthy
Pride Introduces Web-Advertising Guidelines: To protect the company's reputation, Exeter, Pa.-based Pride Mobility has established Internet advertising guidelines for providers. “In establishing these guidelines, Pride hopes to create a framework clarifying and supporting responsible advertising, promotion, instruction and delivery of service methods of Pride mobility products,” the company said.
For the privilege of advertising Pride products on the Internet, providers must be authorized to provide Pride products, must maintain minimum annual Pride purchases of no less than $20,000 and must refrain from advertising certain products for more than 20 percent below the manufacturer's suggested retail price.
“Pride appreciates and supports Pride providers in their development of Web sites featuring Pride products,” the company said, explaining that Pride's Internet Development staff is ready to offer Web-marketing assistance.
More information about Pride's Internet advertising guidelines is available at http://www.prideprovider.com. Providers also may e-mail the company's Internet Development Department at webmaster@pridemobility.com.
In other Pride news, the company will launch its 42-city 2003 Seminar Tour in February. A complete seminar schedule is available by calling (800) 800-8586, extension 1398.
Invacare Receives FDA Clearance for Center-Wheel-Drive Power Chair: Elyria, Ohio-based Invacare has received 501(k) clearance from the U.S. Food and Drug Administration on the Invacare Storm Series TDX center-wheel-drive power wheelchair. The Storm series TDX, which will be available for sale in May 2003, eventually will replace Invacare's traditional rear-wheel-drive power wheelchairs.
Rehabilicare Announces Name Change: To reflect its expanded product offerings — which now include fitness, rehabilitation and pain management products — New Brighton, Minn.-based Rehabilicare is changing its name to Compex Technologies, the company announced last month. Formerly traded under the NASDAQ symbol REHB, the company now will trade under the symbol CMPX.
“After our acquisition of Compex SA in 1999, we expanded our consumer-based fitness product sales in Europe, said Dan Gladney, the company's president and chief executive officer. “With the introduction of those products … we make clear that we are not just a TENS company.”
Mergers & Acquisitions
AmerisourceBergen to Purchase US Bioservices: Expanding its specialty pharmaceuticals business, Valley Forge, Pa.-based AmerisourceBergen has agreed to purchase US Bioservices for approximately $160 million. The agreement also provides for payments up to $30 million, contingent on US Bioservices' achieving earnings targets through the first quarter 2004.
The companies expect to complete the acquisition by Q1 2003.
Financials
Fisher & Paykel Healthcare to Terminate Nasdaq Listing: Citing the high cost of maintaining its American Depository Shares on the Nasdaq National Market, Auckland, New Zealand-based Fisher & Paykel announced plans to terminate its listing in the U.S. technology index, and to cease reporting to the U.S. Securities and Exchange Commission.
After terminating its Nasdaq listing at the end of February, 2003, Fisher & Paykel will revert to a biannual reporting schedule and will provide additional company updates in accordance with Australian Stock Exchange disclosure requirements.
For breaking news, go to www.homecaremonday.com, the electronic news service of the home medical equipment industry.
