Mergers & Acquisitions ·
First Choice Healthcare Solutions entered into an Amended and Restated Stock Purchase Agreement to acquire Pointe…
FCHSFirst Choice Healthcare Solutions, Inc.
First Choice Healthcare Solutions entered into an Amended and Restated Stock Purchase Agreement to acquire Pointe Medical Services, Inc., Pointe Med Pharmacy, Inc., Livewell MD, Inc., and Live Well Drugstore, LLC for a maximum aggregate purchase price of $21.3 million. The consideration includes a $7.0 million cash closing payment (less $300,000 in advances), a $3.0 million deferred cash payment evidenced by a promissory note, approximately $4.3 million in assumed indebtedness, and $6.0 million payable in PubCo common stock. A contingent performance bonus of up to $1.0 million is tied to EBITDA targets. The transaction is conditioned on the concurrent consummation of a business combination with Westin Acquisition Corp., which will result in First Choice becoming a wholly owned subsidiary of the new public holding company, PubCo. First Choice Healthcare Solutions operates in the healthcare services industry.