The sale of Ethox Medical to Dempsey Ventures was completed for an undisclosed amount. Ethox Medical was Moog's operations arm located in Buffalo, New York.
Ethox Medical Buffulo was a division that employed 88 full-time staff and that operated with about $12 million in annual sales. Approximately $5 million was the non-cash loss after taxes that resulted from the sale. This is equivalent to $0.11 per share.
Moog had also announced that it has employed the help of RBC Capital Markets LLC regarding the strategic assessment of the company's remaining Medical Devices segment. Aside from medical equipment, Moog was also involved with military, aircraft, marine, wind energy, space vehicles, and other high performance systems. The company dealt with precision control components and systems as well.
On the other hand, Dempsey Ventures, a private equity firm based in Grand Rapids, Michigan, included anesthesia- and/or respiratory-related companies such as SunMed, Bay Medical, and Ventlab in its portfolio.
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