Midmark Corporation Announces Divestiture of Dental Nitrous Oxide Product Line

Announces that Parker Hannifin acquired the product line
Posted: November 5, 2008
MIDMARK CORPORATION ANNOUNCES DIVESTITURE OF DENTAL NITROUS OXIDE PRODUCT LINE

VERSAILLES, Ohio – (November 3, 2008) – Midmark Corporation announced today that it had successfully completed the divestiture of its dental nitrous oxide delivery product line. Midmark announced that Parker Hannifin (NYSE: PH) had acquired the product line, and will relocate manufacturing from Midmark’s facility in Orchard Park, New York to Parker’s Porter Instrument Division in Hatfield, Pennsylvania. Terms of the agreement were not disclosed.
“As our dental business has continued to grow, the dental nitrous oxide product line is no longer a fit for us strategically,” commented Midmark President and CEO Dr. Anne Eiting Klamar. “This divestiture will allow us to continue to grow by focusing on those areas that provide strategically impactful growth and revenue potential. Our facility in Orchard Park will continue to manufacture a wide and growing range of dental and veterinary products.”
The Matrx nitrous oxide delivery system includes digital flowmeters, manifold systems, standard analog flowmeters and breathing circuits. “The Matrx product line broadens our offering in the dental equipment market and enables Parker to offer products uniquely designed for oral surgery and cosmetic markets,” said John Greco, president of the Parker Instrumentation Group. “These products enhance Porter’s range of solutions to satisfy varying customer requirements.”
“We are confident Parker’s Porter Instrument Division will seamlessly integrate this dental product line into its existing operations,” said Eric Shirley, vice-president and general manager of Midmark’s dental division. “Satisfying the needs of our mutual customers during this transition will be the goal of both companies.”
About Midmark
The most trusted name in the field of medical, dental and veterinary examination and procedure equipment, Midmark Corporation is dedicated to helping healthcare providers deliver the most efficient patient care. The company’s full line of high-quality products for the medical, dental and veterinary markets helps practices improve the patient experience while improving safety, productivity and profitability. As the healthcare industry evolves, Midmark continues to focus on developing quality products with an emphasis on listening to doctors, dentists, veterinarians and patients to determine ways to help increase the quality and efficiency of patient care. Headquartered in Versailles, Ohio, Midmark also has subsidiaries in Gardena, California; Orchard Park, New York; Glasgow, Kentucky; and Ernee, France. For more information about Midmark, visit the company’s Web site at http://www.midmark.com.
 
 
About Parker Hannifin
With annual sales exceeding $12 billion, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of mobile, industrial and aerospace markets. The company employs approximately 62,000 people in 48 countries around the world. Parker has increased its annual dividends paid to shareholders for 52 consecutive years, among the top five longest-running dividend-increase records in the S&P 500 index. For more information, visit the company's web site at http://www.parker.com, or its investor information site at http://www.phstock.com.
 
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