American Medical Alert Corp AMAC, has announced today that it has entered into a
definitive agreement to be acquired by Tunstall Healthcare Group Limited, a
leading telehealth and telecare provider.
Tunstall will acquire all of the
outstanding common shares of AMAC for $8.55 per share in cash without
interest, representing a premium of approximately 50% over AMAC's closing
share price on September 22, 2011, plus one Contingent Payment Right (CPR) per
share providing a contingent cash payment for the holder of such common share
in the event of a sale of AMAC's interests in the Lifecomm joint venture or
prior sale of Tunstall under certain conditions. The transaction is expected
to close at the end of the fourth quarter of 2011.
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