UrgeMedical Group, Inc. acquired ACSH Urgent Care of Virginia, LLC and ACSH Primary Care of Virginia, LLC from American Caresource Holdings, Inc. for $0.61 million.
April 10, 2016
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UrgeMedical Group, Inc. entered into an equity purchase agreement to acquire ACSH Urgent Care of Virginia, LLC and ACSH Primary Care of Virginia, LLC from American Caresource Holdings, Inc. (NasdaqCM:GNOW) for $0.61 million in cash and notes on April 1, 2016. As per the terms of the deal, the consideration will be paid as $0.05 million in cash and the rest of the payment will be made in form of two promissory notes of amount $0.16 million and $0.4 million. The first promissory note will be further paid in two installments, first of $0.05 million which will be paid within 90 days, and second of $0.11 million which will be paid within 150 days. The second promissory note will be paid in three equal installments of $0.13 million on the first, second and third anniversaries of the closing date. ProMed Financial, Inc. acted as broker in the transaction.
UrgeMedical Group, Inc. completed the acquisition of ACSH Urgent Care of Virginia, LLC and ACSH Primary Care of Virginia, LLC from American Caresource Holdings, Inc. (NasdaqCM:GNOW) on April 1, 2016.
American CareSource Holdings, Inc. is a provider of urgent and primary care services. The Company owns and operates over 10 urgent and primary care centers in the east and southeastern United States. The Company operates through urgent and primary care business segment. The Company's services provided at its centers include treatment of general medical problems, including colds, influenza, ear infections, hypertension, asthma, pneumonia, urinary tract infections and other conditions typically treated by primary care providers; treatment of injuries, such as simple fractures, dislocations, sprains, bruises and cuts; minor, non-emergent surgical procedures, including suturing of lacerations and removal of cysts and foreign bodies; diagnostic tests, such as x-rays, electrocardiograms, complete blood counts and urinalyses, and occupational and industrial medical services, including drug testing, workers' compensation cases and physical examinations.
UrgeMedical Group, Inc. acquired ACSH Urgent Care of Virginia, LLC and ACSH Primary Care of Virginia, LLC from American Caresource Holdings, Inc. for $0.61 million.
AMERICAN CARESOURCE HOLDINGS, INC. 
