Global Vision Holdings, Inc. (OTCPK:GVHI.B) entered into a letter of intent to acquire North Delta Hospice and Palliative Services, LLC from Rayond Vallier for $7.7 million on September 28, 2016. Under the terms of the transaction, 10% of the purchase price will be heldld-back for a term of 2-years to be released on a 1-year annual basis; one-half to be returned after the first year, the remainder, the second year. The term of exclusivity is 90 days. Letter of intent will terminate upon written notice, closing or expiring of exclusivity period. The transaction is subject to definitive agreement, Receipt of adequate assurances from the applicable state Department of Health Services and the federal Centers for Medicare and Medicaid Services and due diligence. The transaction is expected to complete in 90 days after signing letter of intent.
Global Vision Holdings, Inc. (OTCPK:GVHI.B) cancelled the acquisition of North Delta Hospice and Palliative Services, LLC from Rayond Vallier on April 13, 2017.