Third Point Calls for Strata Critical Medical to Consider Alternatives Including Potential Sale
Dow Jones10-16 04:43
Strata Critical Medical shareholder Third Point called for the company to consider alternatives including a potential sale.
Third Point, which owns a 5.8% stake, switched from the 13G filing for passive investors to the 13D filing for activist investors.
Strata provides logistics and medical services including air and ground transportation of human organs for transplant.
Third Point believes Strata's underlying business is "strong, but not of a scale to support its current overhead and that management incentive options are not aligned with creating shareholder value."
Strata shares were recently up 3.9% to $4.51 after hours.
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