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Article: Orion HealthCorp Announces Major Progress on Strategic Growth Plan; Company Signs Definitive Agreement For Purchase of Two Revenue Cycle Management Companies and Receives Commitment for $8 Million in Cash.
- Article from:
- Business Wire
- Article date:
- September 11, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ATLANTA -- Orion HealthCorp, Inc. (AMEX: ONH) today announced that, consistent with its stated growth objectives, it has signed definitive stock purchase agreements for the acquisition of all of the issued and outstanding capital stock of two revenue cycle management companies located in Los Angeles, California, and Mobile, Alabama. In support of the Company's growth plan, the Company has also obtained a $3.0 million commitment from Phoenix Life Insurance Company and a $1.65 million commitment from Brantley Partners IV, L.P., currently Orion's largest investor, which will result in an equity capital infusion to the Company of approximately $4.65 million. In addition, the ...