Boston, MA 05/28/2013 (wallstreetpr) – The share prices of Medical Action Industries (NASDAQ:MDCI) had declined by 5.58 percent to close at $7.27 per share for the end of the last trading session. The shares had been trading in the range of $7.04 to $7.62 per share during the day. Medical Action Industries (NASDAQ:MDCI) is involved in the development, manufacture, marketing and sales of disposable medical products and caters to the markets in domestic and international levels.
New credit financing agreement
Medical Action Industries (NASDAQ:MDCI) had recently announced its agreement with Wells Fargo N.A. for $65 million credit facility. The new agreement with the subsidiary of Wells Fargo & Company would thereby replace and refinance the existing agreement which would expire in June, 2014 and which presently has $54.6 million outstanding debt. This new financing agreement of Medical Action Industries (NASDAQ:MDCI) proves to be efficient to provide improved pricing, tenor and operating flexibility for the company to execute its strategic plans.
Medical Action Industries (NASDAQ:MDCI) is involved in product lines such as custom procedure trays, minor procedure kits and trays, operating room disposables and sterilization products, patient-bedside products, containment systems for medical waste and laboratory products. The company presently holds 16.39 million shares outstanding and the institutional ownership is 54 percent of the holdings.
The 52 week low price level for Medical Action Industries (NASDAQ:MDCI) is $2.25 per share and the 52 week high price level for the company is $8.99 per share. The average trading volume for Medical Action Industries (NASDAQ:MDCI) is at 71,182 shares per day.
