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MedSource Eyes 50,000-SF Sale-Leaseback

PHILADELPHIA, PA-Minnetonka, MN-based MedSource Technologies has agreed to buy medical device firm Cycam Inc. for $24 million in cash and stock. A result could be a sale-leaseback of 149 Johnson Rd. in Houston, PA.

By Jim McCartney | Updated on September 05, 2002

PHILADELPHIA, PA-The new owner of Cycam Inc., a supplier of hip, knees and shoulder implants to the medical device industry, says there’s a good chance the firm’s50,000-sf facility in Houston, PA will be sold off as part of a sale-leaseback deal. MedSource Technologies officials say week it has agreed to buy Cycam for $24 million in cash and stock, and as a result of the deal, they will look to do a sale-leaseback of Cycam’s facility at 149 Johnson Rd. in the city about 20 miles south of Pittsburgh.

“We’re not in the real estate business, so we will be looking at opportunities to do a sale-leaseback,” says Richard Effress, chief executive of Minnetonka,MN-based MedSource, which provides manufacturing services to the medical device industry.

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