ICN Pharma buys MAII Holdings for $14.4 mill
ICN Pharmaceuticals has acquired the medical business assets of MAIIHoldings, formerly known as Medical Alliance, in a cash deal worth $14.4 million. The latter's chairman, Paul Herchman, said that the transaction has substantially strengthened the company's financial position and has removed "a major uncertainty" for MAII.
Heartland reduces stake in ICN
Meantime, it has been revealed that Heartland Advisers, ICN's second-largest shareholder, has reduced its stake in the company to 4.1% from 5.1%. No reason was given for its sale of ICN shares.
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