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ACMI Corporation history
ACMI Corporation company history timeline
1923 Start with a small service
When Richard A. Auhll joined Circon as president in 1969, it had eight employees with $200,000 in sales.
Under Auhll's leadership, Circon began selling television microscope systems for industrial inspection in 1970.
In 1973 Auhll developed his vision of the future of medical video technology.
In 1977 Auhll executed a leveraged buyout of Circon from the prior owners for $1.1 million, with equity put up by Auhll and three venture investors.
In 1980 it was acquired by AHS, who installed its own management team.
In 1982 it was able to wipe out its debt through a $7 million private stock placement in the United Kingdom after making a return to the original investors.
In July 1983, the value of the company rose to $128 million with only $9 million in sales and $1 million in net income.
By the second half of 1988, a positive operating profit was realized.
By 1995, federal health care reform efforts were dead and the medical equipment markets began growing again.
On December 17, 1996, United States Surgical lowered its tender offer from $18 per share to $17 per share.
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ACMI Corporation may also be known as or be related to ACMI, ACMI Corporation and Acmi.