Agility Health Closes Proposed Transaction with Alliance

Agility Health (TSXV:AHI) announced that it closed its previously announced transaction with Alliance Physical Therapy Management, LLC, a wholly-owned subsidiary of Alliance Physical Therapy Partners, LLC, which is a portfolio company of GPB Capital Holdings, LLC whereby Alliance agreed to purchase 100% of its U.S.-based assets pursuant to the terms of a definitive agreement which was signed on February 2, 2018.

As quoted in the press release:

The Company intends to use the remaining available funds, estimated to be USD$1,000,000, for general working capital purposes and to provide capital to grow Medic, the Company’s Canadian subsidiary, that will constitute the primary business and asset of the Company post-transaction. Medic currently operates twelve outpatient foot care clinics in Ontario and Quebec and also manufactures orthotics and prosthetics.   Under the terms of the of the Purchase Agreement, Agility Health will not be able to engage in a business in the United States that is competitive with Agility’s former U.S. business for a period of five years.

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