(previous LOI PR) 3/20
American Claims Evaluation Enters Letter of Intent
JERICHO, N.Y., Mar 20, 2001 (AMCE) announced it has entered into a Letter of Intent for the proposed acquisition of a privately-held East Coast corporation which is in the business of providing occupational health care staffing and services.
The acquisition is to be effected on a cash basis with a down payment at closing plus an additional amount contingent upon future earnings, which could result in a total purchase price of $6,000,000. Such entity had revenues in excess of $11,000,000 during its most recent fiscal year. As is customary, the proposed acquisition is subject to the commencement and completion of due diligence activities by American Claims, and the negotiation and consummation of a legally binding stock purchase agreement and other contingencies.
American Claims Evaluation, Inc., through its wholly-owned subsidiary, RPM Rehabilitation & Associates, Inc., offers a full range of vocational rehabilitation and disability management services.
For further information contact: Gary J. Knauer, Chief Financial Officer, American Claims Evaluation, Inc., One Jericho Plaza, Jericho, New York 11753; telephone number: (516) 938-8000 |
