Universal Self Care to Buy Diabetes Resource Centers

Universal Self Care Inc., a Van Nuys retailer of medical products for diabetics, said it has tentatively agreed to buy the business and assets of the Diabetes Resource Centers in Houston and San Antonio.

Terms of the acquisition were not disclosed, but the two Texas centers have annual sales of about $750,000.

Universal Self Care, which lost $1 million on revenue of $4.5 million for its fiscal year ended June 30, sells insulin, sugar-free food and other products through its five SugarFree Centers in Southern California, pharmacies and mail-order shipments.

The company raised $3.8 million in net proceeds from an initial public offering last year, partly so it could expand outside California.