HealthSmart Preferred Care II, LP entered into an asset purchase agreement to acquire certain specified assets and contracts related to ancillary network business from American Caresource Holdings, Inc. for $4.1 million.
June 16, 2016
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HealthSmart Preferred Care II, LP entered into an asset purchase agreement to acquire certain specified assets and contracts related to ancillary network business from American Caresource Holdings, Inc. (OTCPK:GNOW) for $4.1 million on June 15, 2016. Under the terms, HealthSmart Preferred Care will assume $3.2 million of liabilities, payment of $0.6 million for obligations and a cash payment of $0.26 million. The transaction is subject to customary closing conditions. The transaction will close in the third quarter of 2016. Matthew S. O’Loughlin of Manatt, Phelps & Phillips, LLP acted as legal advisor for HealthSmart Preferred Care II, LP.
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.
HealthSmart Preferred Care II, LP entered into an asset purchase agreement to acquire certain specified assets and contracts related to ancillary network business from American Caresource Holdings, Inc. for $4.1 million.
AMERICAN CARESOURCE HOLDINGS, INC. 
