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PSS to acquire Gulf South Medical
Fast-growing medical products distributor Physician Sales and Service of Jacksonville, FL, plans to get even bigger with the acquisition of Gulf South Medical Supply of Jackson, MI. The $685 million deal will create an equipment distribution giant with
Fast-growing medical products distributor Physician Sales and Service of Jacksonville, FL, plans to get even bigger with the acquisition of Gulf South Medical Supply of Jackson, MI. The $685 million deal will create an equipment distribution giant with run-rate revenues of $1.3 billion.
The combined company will have 981 sales representatives and 112 service centers, and will serve over 130,000 customers in all 50 states. Gulf South chairman and CEO Thomas Hixon will join PSS as president and COO, while three Gulf South board members will join the board of PSS. The deal is expected to close in the first half of 1998, according to PSS chairman and CEO Patrick Kelly.
Physician Sales & Service also plans to change its name to PSS World Medical to reflect the company's expansion into new medical distribution markets.