US-based Moog has completed the sale of its Buffalo, New York operations of Ethox Medical to Dempsey Ventures.
The annual sales from this division are approximately $12m. Ethox Buffalo has 88 full-time employees.
There is an after-tax non-cash loss of approximately $5m from this sale, which will be reflected in the company’s third quarter results for the period ended 29 June 2013, which will be reported in July.
Michigan-based Dempsey Ventures is a private equity firm focused on healthcare products. Its portfolio of companies in the anesthesia/respiratory space includes SunMed, Bay Medical and Ventlab.
Moog has engaged RBC Capital Markets to assist with the strategic assessment of the remainder of its medical devices segment, including the possibility of divesting the entire segment.