Davstar Industries Ltd.: The Costa Mesa maker...
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Davstar Industries Ltd.: The Costa Mesa maker of medical products has scheduled a special shareholders meeting July 10 to approve a name change and its acquisition of Dacomed, a Minneapolis-based medical products company. Davstar, which makes medical treatments for urological problems, plans to change its name to UroHealth Inc.
Shareholders also will be asked to approve a $4-million investment of preferred stock by FoxMeyer Health that would give the Carrollton, Tex., drug store chain a 17% interest in Davstar. FoxMeyer would have an option to increase its holdings to 27%, said Michael A. Piraino, Davstar’s executive vice president.
Davstar plans to issue 5.2 million shares of common stock to Dacomed shareholders, who would end up with a 23% stake in the Costa Mesa company. Davstar shareholders also will vote on proposals to expand the board and move the company’s place of incorporation to Delaware from Canada.
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