Navigation Links
Aurora Capital to Acquire Porex Corporation, Leader in Porous Plastic Materials Science
Date:9/21/2009

LOS ANGELES, Sept. 21 /PRNewswire/ -- Aurora Capital Group ("Aurora"), a Los Angeles-based private equity firm with over $2.0 billion of assets under management, today announced that it has signed a definitive agreement with HLTH Corporation (Nasdaq: HLTH) to acquire its wholly owned subsidiary, Porex Corporation ("Porex" or the "Company"). The transaction is subject to the satisfaction of customary closing conditions and is expected to close in the fourth quarter of this year.

Founded in 1961 and based in Fairburn, GA, Porex is the leading global developer, manufacturer and distributor of porous plastic products. The Company primarily serves the healthcare and surgical end markets, and also supports high-performance applications in the consumer and industrial sectors. Porex products serve filtration, venting, wicking, and diffusing functions in applications such as blood filters, catheter vents, fuel filters, writing instrument tips and consumable diagnostic tests. In addition, through its MEDPOR brand, Porex's surgical products are the first FDA-cleared porous plastic implants for use in craniofacial and orbital reconstructive surgery. Porex, which pioneered porous plastic technology over 40 years ago, is today widely recognized for its materials science expertise and proprietary designs which serve over 1,250 customers across more than 75 countries via operations in North America, Europe and Asia.

Gerald L. Parsky, Chairman of Aurora Capital Group, said, "We are delighted to partner with Porex, the leader in porous plastics. Aurora prides itself on its targeted approach to investing and Porex, with its strong market position, attractive growth opportunities and sustainable profitability, is an excellent fit with our acquisition criteria. I am confident that together we will be able to further strengthen Porex's leading market position and generate continued success for our customers, employees and investors."

John Mapes, Managing Partner of Aurora Capital Group, said, "Porex's unique, proprietary materials expertise supports remarkable product solutions for its customers. We are impressed by the accomplishments of Porex's team and the performance of the company, particularly its resilience during the recent downturn, and look forward to working with management to help the Company continue its commitment to innovation in partnership with its global customer base."

William Midgette, President and Chief Executive Officer of Porex, said, "We are excited to be partnering with Aurora Capital. Aurora's expertise in investing in and guiding market-leading companies, like Porex, will enable us to take our company to the next level of growth and innovation. I am also proud of our 600 plus employees and their dedication to our customers and the Porex mission. I am confident they share my enthusiasm for the significant opportunities that lie ahead for our customers, our company and this partnership."

ABOUT AURORA CAPITAL GROUP

Aurora is a Los Angeles-based private equity firm managing over $2.0 billion that utilizes two distinct investment strategies. Aurora Equity focuses principally on control-investments in middle-market industrial, manufacturing and selected service oriented businesses, each with a leading position in sustainable niches, a strong cash flow profile, and actionable opportunities for both operational and strategic enhancement. Aurora Resurgence invests in debt and equity securities of middle-market companies and targets complex situations that are created by operational or financial challenges either within a company or a broader industry. For more information about Aurora Capital Group, visit www.auroracap.com or www.aurorares.com.

ABOUT HLTH

HLTH Corporation (Nasdaq: HLTH) owns approximately 83% of WebMD Health Corp. (Nasdaq: WBMD). WebMD is the leading provider of health information services, serving consumers, physicians, healthcare professionals, employers and health plans through its public and private online portals and health-focused publications. HLTH also owns Porex, a developer, manufacturer and distributor of porous plastic products and components used in healthcare, industrial and consumer applications.

For Aurora Capital Group:

    Matthew Sherman / Jaime Wert
    Joele Frank, Wilkinson Brimmer Katcher
    (212) 355-4449


'/>"/>
SOURCE Aurora Capital Group
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. HLTH Corporation Announces Agreement to Sell Porex Unit to Aurora Capital Group for $142 Million
2. Aurora Health Care Top Performing Health System in National Quality Initiative
3. Aurora St. Lukes Healing Garden Earns LEED Certification
4. Auroras Milwaukee Hospitals Recognized in US News and World Report
5. Aurora Health Care Sponsors Education Event to Improve Care for the Elderly
6. Leukemia & Lymphoma Society Recognizes Aurora Physician as Man of the Year
7. Aurora Physician Recognized for Multiple Sclerosis Care
8. Aurora St. Lukes Dedicates Rooftop Healing Garden and Conservatory
9. Aurora St. Lukes Dedicates Healing Garden
10. Aurora Health Care Unveils ORBIT, A Cutting-Edge Research Instrument
11. Aurora Health Care Twitter-Surgery A Success
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... Orion, Clarkston, Michigan (PRWEB) , ... June 26, ... ... with respect to fertility once they have been diagnosed with endometriosis. These women ... intercourse but they also require a comprehensive approach that can help for preservation ...
(Date:6/25/2016)... ... June 25, 2016 , ... Austin residents seeking Mohs ... College of Mohs Surgery and to Dr. Russell Peckham for medical and surgical dermatology. ... treatment for skin cancer. The selective fellowship in Mohs Micrographic Surgery completed by Dr. ...
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture ... said Christina Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s package ... Final Cut Pro X . Simply select a ProHand generator and drag it ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, ... and his M.D from the David Geffen School of Medicine at UCLA. He trained ... Angeles to complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where ...
(Date:6/25/2016)... ... 2016 , ... On Friday, June 10, Van Mitchell, Secretary of the Maryland ... iHire in recognition of their exemplary accomplishments in worksite health promotion. , The Wellness ... & Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire was one of ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... June 23, 2016  In a startling report released today, ... residents by lacking a comprehensive, proven plan to eliminate prescription opioid ... ranking of how states are tackling the worst drug crisis in ... states – Kentucky , New Mexico ... . Of the 28 failing states, three – ...
(Date:6/23/2016)... , June 23, 2016 Research ... MEMS Devices Medical Market Analysis 2016 - Forecast to 2022" ... The report contains up to date financial data ... analysis. Assessment of major trends with potential impact on the ... analysis of market segmentation which comprises of sub markets, regional ...
(Date:6/23/2016)... Research and Markets has announced the addition of ... their offering. The current ... environment for MedImmune to enter. The US ageing population creates ... drive considerable growth for effective anti-influenza medications. The introduction of ... but development is still in its infancy. ...
Breaking Medicine Technology: