Nov 19 2010
PSS World Medical, Inc. (Nasdaq:PSSI) announced today that it has entered into a definitive agreement to acquire Jacksonville, Florida-based Linear Solutions, Inc. ("Linear"). Linear markets a proprietary system that allows physicians to dispense medications to patients on-site within their practice. Linear's turn-key system provides inventory tracking, dispensing and reordering services for physician practices, as well as claims processing, management and assignment. With operations throughout the country and a staff of 100 professionals, Linear is currently projected to generate approximately $45 million in annual revenue. Terms of the transaction were not disclosed.
David M. Bronson, Executive Vice President and Chief Financial Officer of PSS World Medical, Inc., commented, "We are pleased to announce this strategic acquisition. Linear's product offering adds a new competency to our physician business, helping our physician customers add revenue to their practice while providing immediate care for their patients. This, along with several smaller recent acquisitions, is directly in line with our purpose of strengthening the clinical success and financial health of caregivers."