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IntegraMed America moves to consolidate South Florida fertility market.(Brief Article)
2002 AUG 1 - (NewsRx.com & NewsRx.net) -- IntegraMed America, Inc., (INMD) announced that it funded the merger of two leading South Florida fertility centers, simultaneously expanding the scope and size of its operations.
Under the terms of the agreement, IntegraMed paid Margate, Florida-based Northwest Center for Infertility and Reproductive Endocrinology (NCIRE) an undisclosed sum that was used to purchase and merge with the Fertility Institute of South Florida. Under the terms of a previously announced transaction with NCIRE, IntegraMed provides a complete range of business, marketing, and facility services to the group and shares in the revenues and earnings of NCIRE. It is expected that this transaction will expand the base of operations, the size and profitability of NCIRE and IntegraMed.
"When we initially affiliated with NCIRE a month ago we committed to provide the business and financial resources to help take the group to the next level of growth and development," said Gerardo Canet, president and CEO of IntegraMed. "This transaction allows NCIRE and the Fertility Institute of South Florida to merge their operations and create tremendous efficiencies and synergy. And, we are pleased that it only took us a month to take the first step towards consolidating the market. These two transactions are a model for how we intend to grow in the largest 50 markets across the U.S.," added ...
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