Graymark Healthcare GRMH and Foundation Healthcare Affiliates,
LLC today jointly announced the signing of a definitive agreement for
Graymark to acquire 100% of the equity interest of Foundation
Surgical Hospital Affiliates, LLC, and Foundation Surgery Affiliates,
LLC from Foundation Healthcare Affiliates in a transaction valued at
$1.10 per common share for an aggregate transaction value of
approximately $52.5 million. The transaction has been approved by the
Boards of Directors of both companies and is targeted to close in the
third quarter 2012, subject to the finalization of related ancillary agreements and the satisfaction of specified closing conditions and
third-party consents. Foundation/Graymark will be the name post
closing.
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