OTHER NEWS - April 20, 1994
From Times Staff and Wire Reports
NME to Sell Dialysis Services Unit: Santa Monica-based National Medical Enterprises Inc. reached an agreement in principle to sell a controlling interest in its Medical Ambulatory Care Inc. to DLJ Merchant Banking Partners and affiliated investment partnerships. Under terms of the agreement, NME will receive a $75.5-million cash distribution from MAC and will retain a 30% minority interest. Separately, NME’s rating on about $390 million of senior debt was raised to BB+ from BB- by Standard & Poor’s, which removed the rating from its CreditWatch.
