TARRYTOWN, N.Y.--(BUSINESS WIRE)-- The Center for Wound Healing, Inc. (OTCBB: CFWH), a leading manager of comprehensive wound care treatment centers that offer wound care and hyperbaric oxygen therapy, today announced the completion of the acquisition of CFWH by Sverica International, a leading private equity firm, for approximately $41 million.
Holders of shares of CFWH common stock are entitled to receive $0.567522 per share in cash, without interest, in the transaction at this time. In addition, former CFWH stockholders may also be entitled to receive up to an additional $200,000 in the aggregate (approximately $0.0087 per share) that is being held in escrow for up to one year after the closing of the transaction. However, it is not possible to predict at this time whether former CFWH stockholders will receive all or any portion of the escrowed amount.
Continental Stock Transfer & Trust Company is serving as the paying agent in the transaction.
About The Center for Wound Healing, Inc.
The Center for Wound Healing, Inc. is a leading manager of comprehensive wound care treatment centers that offer hyperbaric oxygen therapy ("HBOt") as well as traditional wound care treatment modalities. The Company manages 32 wound care centers in the eastern United States in partnership with local acute care hospitals. CFWH was founded by physicians in 1997 with a focus on establishing in-hospital centers of excellence to treat the growing incidence of severe grade diabetic wounds of the lower extremities and wounds that are unresponsive to general wound care treatments. The Company's centers have consistently achieved high treatment success rates, resulting in a dramatic increase in patient quality of life and significant cost savings to the healthcare system.
About Sverica International
Sverica International is a leading private equity firm with over $425 million of assets under management across three funds. The firm acquires, invests in and actively builds companies that are, or could become, leaders in their industries. Since 1993 Sverica has maintained a “high touch” operating philosophy of taking an active role in portfolio companies. Sverica devotes significant internal resources to help its management teams develop and execute growth strategies.
The Center for Wound Healing, Inc.
Andrew Barnett, 914-372-3152
KEYWORDS: United States North America New York
INDUSTRY KEYWORDS: Health Hospitals Other Health General Health Managed Care