Kirschner Medical Corp. plans to sell its Chick Medical Products Division for approximately $9 million to Ohio-based MIDMARK Corp.
Kirschner yesterday announced that it has a definitive agreement to sell Chick, which has a line of surgical tables and lights for operating rooms. MIDMARK is to lease Kirschner's 80,000-square-foot manufacturing facility in Greenwood, S.C., and has an option to purchase the land and building in one year for $2.2 million.
Bruce J. Hegstad, president and chief executive officer of Kirschner, said the sale of Chick is part of the company's efforts to concentrate on its core orthopedic business.
Timonium-based Kirschner develops, manufactures and markets orthopedic instruments and implants.
MIDMARK is a closely held manufacturer of medical products, including medical-examination furniture, sterilizers, cribs and lighting and procedure carts found in physicians' offices.