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Delmed

Executive Summary

Shareholders in Concord, Calif.-based peritioneal dialysis products firm on Aug. 30 approved merger plan with Fresenius USA that was announced Feb. 14 ("The Pink Sheet" Feb. 19, "In Brief"). New plan replaces one announced as preliminary agreement in June 1989 that was thrown out due to a break in Delmed's supply contract with National Medical Care ("The Pink Sheet" Oct. 30, 1989, T&G-9). Pursuant to plan, Fresenius USA and German parent Fresenius AG purchased $ 5 mil. in options to boost their equity stake in Delmed to approximately 80%, Delmed agreed to increase number of authorized shares from 100 mil. to 300 mil. and to increase number of issuable shares from 1.1 mil. to 5 mil.
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PS017996

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