Precept Medical Products, Inc. Announces Divestiture of Surgical Pack, Drape and OR Gown Business

Precept Medical Products, Inc. today announced the sale of its UltraGard Surgical Pack, Drape, and OR Gown business to Medline Industries, Inc. The sale is the culmination of Precept’s strategy announced in September 2008 to formally separate the company’s Protective Apparel and UltraGard businesses to provide more focus for each.  The terms of the transaction were not disclosed.

UltraGard manufactures a full line of surgical packs, drapes and gowns for use predominantly in sterile medical procedures by surgeons, physicians, nurses and other medical professionals.  UltraGard markets its products to custom procedure tray assemblers and directly to hospitals and surgery centers.  The division’s products have been sold since the 1970s, originally marketed under the White Knight® brand and under the UltraGard™ brand since 1998.

Ewing Bemiss & Co. served as financial advisor to Precept in connection with this transaction.