Zila agrees to be acquired by Tolmar
FORT COLLINS – Shareholders cleared the way on Friday for Zila Inc.’s acquisition by Tolmar Holding Inc.
Fort Collins-based pharmaceutical firm Tolmar entered into a definitive agreement to purchase Zila, based in Scottsdale, Ariz., on June 25. Zila develops dental products for the prevention, detection and treatment of oral disease, adding to an existing dental line at Tolmar.
The deal will net Zila stockholders about $4.6 million. It comes after several years of financial issues that left the company mulling Chapter 11 bankruptcy protection. A Florida-based suitor had attempted to block the acquisition with a lawsuit that it subsequently dropped.
“The new Zila has the financial stability, experience, products and services to help dental professionals care for their patients while contributing to the success of their practice,´ said Mike Duncan, CEO of Tolmar, in a prepared statement.
The combined companies have a total workforce of 525 in 12 facilities, 40 patents and more than 60 products on the market.
FORT COLLINS – Shareholders cleared the way on Friday for Zila Inc.’s acquisition by Tolmar Holding Inc.
Fort Collins-based pharmaceutical firm Tolmar entered into a definitive agreement to purchase Zila, based in Scottsdale, Ariz., on June 25. Zila develops dental products for the prevention, detection and treatment of oral disease, adding to an existing dental line at Tolmar.
The deal will net Zila stockholders about $4.6 million. It comes after several years of financial issues that left the company mulling Chapter 11 bankruptcy protection. A Florida-based suitor had attempted to block the acquisition with a lawsuit that it subsequently dropped.
“The new…
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