Tokos Medical Acquires MRM

Tokos Medical Corp., the Santa Ana-based provider of specialized home health-care services, said Wednesday that it has acquired the outstanding shares of Medical Resource Management Inc. and its five affiliated companies on the East Coast.

Tokos exchanged about 440,000 shares of its common stock for its ownership of the MRM group of companies, bas ed in Greenville, S.C. The stock swap is worth more than $14 million, based on the value of Tokos stock, said Nicholas A. Mione, Tokos’ chief financial officer. Tokos stock closed at $32.50 Wednesday, down $2.50.

He said the MRM companies, which had sales of $3.8 million in 1990, will operate as a separate division under Tokos and will retain their name. Jane Greene, MRM’s founder and president, was named the division’s president.

“We feel that MRM has an exceptionally strong group of managers and excellent clinical expertise in handling home-care problem pregnancies,” Mione said.

Tokos lost $2.7 million on revenue of $75.4 million in 1990 and has projected revenue of about $105 million this year, Mione said. The combined revenue of MRM and Tokos in 1991 is expected to reach $113 million, he said.