SRI Surgical to explore strategic options
SRI Surgical Express Inc. said Wednesday its board of directors has decided to explore strategic options to enhance shareholder value, including a possible strategic alliance, merger or sale of the company.
SRI Surgical supplies reusable and disposable surgical products and services to the health care industry. The company said it retained McColl Partners LLC as a financial adviser to the board. It said there is no timetable on the review.
In 2010 SRI Surgical reported a loss of $1.6 million, or 24 cents per share, on $100.9 million in revenue. Over the first six months of 2011, it reported a loss of $1.3 million, or 20 cents per share, on $54.1 million in revenue.
The company's shares closed at $3.15 Wednesday. They have traded between $2.51 and $6.50 in the last year .