IntegraMed Surges 20% on $169.5M Buyout

Shares of IntegraMed

are seeing much strength during Monday's trading session after Sagard Capital Partners agreed to buy the company for $169.5 million. Sagard Capital agreed to purchase IntegraMed for $14.05 per share in cash, or a total equity purchase price of $169.5 million. The consideration represents a 24% premium to IntegraMed's closing stock price of $11.34 on June 8, 2012, the last trading day prior to today's announcement, and a 46% premium to IntegraMed's average daily closing price over the past year. Jay Higham, Chairman, CEO and President of IntegraMed, commented, “This transaction delivers on two of our key objectives, as we have secured a premium to IntegraMed's share price and a long-term partnership with a respected investor. With Sagard, we will have the additional financial flexibility to continue investing in the growth of our business. Sagard is a long-term investor, and this transaction demonstrates their confidence in the Company's fundamental business operations and growth prospects. Furthermore, we believe that Sagard's principals respect and value the unique team of physicians, clinic staff and management that are the foundation of IntegraMed's success.” Currently, shares of IntegraMed are trading up about 20% at $13.68 per share.