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.
October 11, 2016
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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. is a financial holding company that focuses on the investments of environmentally responsible companies. In addition to the parent Company, Global Vision Holdings, Inc. operates four wholly-owned subsidiaries: The Place Media, LLC; Mammaâs Best LLC, Strategic Management Consultants, LLC, and Grocers Direct, LLC. The Place Media, LLC publishes The Place Magazine, a travel and tourist guide highlighting local attractions, entertainment and restaurants to visitors to the San Diego, Orange County and Los Angeles areas. Through Mammaâs Best, LLC, the Company produces and sells food products. Its Mammaâs Best products are available at organic and natural food retail outlets primarily in Southern California. Grocers Direct provides consulting and representation services for emerging natural food brands in the retail market place.
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.