10-03-2008, 06:48 AM
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NAR # 19250 - Life Member
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Join Date: Sep 2008
Location: Woodstock, IL
Posts: 497
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Quote:
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Originally Posted by Royatl
In the mid 80's they were known for their biomedical testing equipment (i think their cash cow was diabetic tests), and they were one of the first companies to bring out a simplified test for HIV. I think at that point some of the management saw a potential for being able to print money, and that's where Shockie's time line kicks in.
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Actually, they were the target of an LBO (leveraged buy out). The LBO model at the time said "find business without a lot of debt but steady cash flow from stable businesses, then buy out the company using debt." When done properly, it was a very successful business model.
At the time, I tried getting First Chicago Venture Capital to bid on the company, and did get a copy of the prospectus. A very interesting document.
Last bit of trivia: the LBO that eventually came out of the Damon - Nomad struggle was the last deal done by Drexel Burhan Lambert, Mike Milken's old firm.
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