Competitor Buys Life Support Products Inc.
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IRVINE — Life Support Products Inc. of Irvine, a maker of emergency medical and respiratory equipment, was officially acquired Friday by a competitor for $15.4 million.
Allied Healthcare Products Inc., a St. Louis-based maker of medical equipment, had announced plans to purchase Life Support in October.
It is still too early to predict if any layoffs are planned for the estimated 95 employees who work for Life Support in Orange County, a spokesman said.
Allied Healthcare, which had fiscal 1993 profit of $6.7 million on sales of $61 million, will expand its product line with the acquisition. As a wholly owned subsidiary, Life Support said it will benefit from Allied Healthcare’s extensive distribution channels. Life Support’s profits last year were about $1 million on sales of $12 million, the company said.
Life Support makes ventilators and other items that are found in ambulances, including spine immobilizers and vertical extraction stretchers for injured people trapped in confined spaces.
Completion of the acquisition did not do much for Allied’s stock, which dropped 50 cents per share in Nasdaq trading Friday, closing at $11.50 per share.
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