CORAL SPRINGS, Fla.
, March 14, 2012
/PRNewswire/ -- Arriva Medical, a leading national provider of diabetic supplies, announced today that it has acquired AmMed Direct, in a transaction valued at approximately $23 million
. The transaction included a cash payment of $21 million
at closing, and contingent payments which are expected to total $2 million
. Based in Nashville, TN
, AmMed had a customer base of approximately 120,000 active customers. As part of the acquisition, Arriva has acquired certain operational assets and has also leased a portion of the space in which AmMed previously conducted its business. Ultimately, Arriva expects to hire approximately 100 employees to support the initiative.
SOURCE Arriva Medical