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<title>Svoboda, Collins L.L.C.</title>
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<META NAME="description" CONTENT="Svoboda, Collins (SC) focuses on making equity investments in small to medium-sized growth companies with revenues and pre-financing valuations between $20 and $200 million.">
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<P><B>Svoboda, Collins L.L.C. Announces the Acquisition of Peiser's, Inc.</B>
<P><B>CHICAGO, September 25, 1998</B> - Svoboda, Collins today announced that it has acquired Peiser's, Inc. ("Peiser's") from Invacare Corporation. Peiser's is a Chicago, IL based distributor of disposable medical supplies to home health care providers and, to some extent, direct to consumers. Patrick G. Bohan has joined Peiser's as its Chief Executive Officer.
<P>Invacare Corporation, a Nasdaq-listed manufacturer and distributor of home medical equipment, obtained Peiser's through its January 1998 acquisition of Suburban Ostomy Supply Co., Inc. Peiser's was acquired by Suburan Ostomy Supply Co., Inc. in May 1997. The segment of the market that Peiser's serves is outside of Invacare's focus, leading to the divestiture of Peiser's to Svoboda, Collins.
<P>Mr. Bohan has spent over 11 years in the medical supplies distribution industry, most recently as Suburban Ostomy's Vice President, Sales and Marketing since 1990. Mr. Bohan approached Svoboda, Collins to partner with him in acquiring Peiser's based on his relationship with John Svoboda, who assisted Suburban Ostomy in going public in 1996 while he was with William Blair & Company, L.L.C., a Chicago-based investment bank. "I was excited about partnering with Svoboda, Collins not only because of their experience in healthcare distribution," Mr. Bohan stated, "but also because of my past relationship with John Svoboda and our common goals and objectives in growing an excellent business."
<P>Svoboda, Collins and Mr. Bohan intend to utilize Peiser's strong reputation in the marketplace as a value-added distributor and information services provider as a platform to grow a leading national distributor of medical supplies to the home healthcare industry. "We believe that the Peiser's name and Pat Bohan's expertise and relationships within the industry will serve as an excellent platform upon which to build," said John Svoboda. "We look forward to supporting Pat and his team as they work to achieve a leadership position within this rapidly evolving industry."
<P>Svoboda, Collins is a $70 million private equity fund established in 1998 to identify, invest in and build excellent service and distribution companies. The firm is focused on making equity investments in small to medium-sized growth companies with revenues and pre-financing valuations between $20 and $200 million. Within this range, investments are likely to include (1) early stage financings of innovative businesses with compelling business models; (2) financings of established companies with proven business models for growth or liquidity purposes; and (3) management buy-outs and recapitalizations of larger, more mature companies. SC will not require control in its investments, but will require an ownership position of at least 20%. SC will typically invest $1 to $10 million of equity in each transaction. For larger transactions requiring additional equity, SC intends to potentially draw on its limited partners, or to partner with another private equity group with similar objectives.
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