Kirschner Medical agrees to sell Timonium division


Kirschner Medical Corp. said it has agreed to sell its veterinary orthopedic business and its 77,000 square foot manufacturing facility in Timonium to the privately held Osteo-Technology International Inc.

Terms were not disclosed. Kirschner's veterinary business had sales last year of $1.5 million.

Kirschner announced in May that it planned to sell the Timonium facility.

The financially strapped firm late last month concluded an agreement with Maryland National Bank to restructure $17.3 million in debt. The agreement was contingent upon a decrease in debt or an increase in equity, Kirschner said.

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