Accelera Innovations, Inc entered into a stock purchase agreement to acquire SCI Home Health, Inc. from Ethel dela Cruz, Virgilia Avila, Ma Lourdes Reyes Celicious, Cristina Soriano, Michelle Cartas and Jimmy Lacaba for $0.45 million on August 25, 2014. Under the terms, Accelera will pay $0.02 million with execution of the stock purchase agreement and $0.43 million upon approval of the required license transfer by the Illinois Department of Public Health. AOK Property Investments agreed to lend to Accelera an aggregate of $0.5 million, a portion of the proceeds of the loan was used by Accelera to fund the deal. Post closing, SCI agreed to reimburse Accelera for expenses generated by SCI after the closing of the deal. The initial closing of the deal will be on or around August 29, 2014 and the final closing is expected on October 7, 2014.


Accelera Innovations, Inc completed the acquisition of SCI Home Health, Inc. from Ethel dela Cruz, Virgilia Avila, Ma Lourdes Reyes Celicious, Cristina Soriano, Michelle Cartas and Jimmy Lacaba on October 7, 2014.