Agility Health, Inc.

Agility Health, Inc.

November 13, 2013 18:01 ET

Agility Health, Inc. Expands Presence in Greater St. Louis Area With Acquisition of Excel Sports and Physical Therapy

GRAND RAPIDS, MICHIGAN--(Marketwired - Nov. 13, 2013) - Agility Health, Inc. (TSX VENTURE:AHI) ("Agility Health"), a leading provider of physical rehabilitation and software services that benefit patients, healthcare providers and employers, today announced that it has acquired 100% of the membership interests in Babar Enterprises, LLC, which operates under the name "Excel Sports and Physical Therapy" ("Excel"), for total consideration of approximately US$3.6 million, consisting of cash, 1,897,965 restricted voting common shares of Agility Health (the "Consideration Shares") and certain contingent performance payments (the "Transaction"). Excel generates approximately US$5.6 million in annual revenues. The issuance of the Consideration Shares is subject to TSX Venture Exchange approval.

Based in Missouri, Excel operates nine outpatient physical therapy sites in the greater St. Louis and St. Charles, Mo. areas. Excel has built a strong local reputation for quality patient care, with a particular emphasis on the care of sports- and work-related injuries. Excel's 30 physical therapists provide a full range of services for patients with orthopedic rehabilitation needs, incorporating leading-edge therapy techniques, state-of-the-art fitness and rehabilitation equipment, and a customized, one-on-one approach. Excel also provides athletic training services to a number of local high schools, in keeping with its sports-oriented focus.

"Excel's top-notch operations, seasoned management and solid culture are a perfect match for Agility Health as we strategically build on our presence in the St. Louis area," commented Steven N. Davidson, Agility Health's Chief Executive Officer. "We believe Excel's commitment to quality patient care, coupled with its proximity to Agility's existing operations in St. Louis, will provide opportunities for enhanced services and future growth in the market. In addition, Excel's strong relationships with area physicians and members of the local athletic community should provide an excellent base for continued growth as part of the Agility team."

Key members of Excel's management team have signed employment agreements to continue working with Agility Health following closing of the Transaction.

About Agility Health

Through its subsidiary and principal operating entity, Agility Health, LLC, Agility Health operates a multi-state network of outpatient rehabilitation clinics and provides contracted services to hospitals, nursing homes and other institutional clients, providing care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and a variety of other injuries and conditions. In addition, Agility Health provides a number of ancillary services related to physical rehabilitation, including practice management software systems and custom orthotics. As of November 14, 2013, Agility Health operates 74 outpatient or onsite rehabilitation locations in 17 states. Agility Health's contract therapy services business provides rehabilitative services to 41 hospitals and inpatient rehabilitation units, 36 nursing homes, long-term care facilities and other service locations in 13 states.

Cautionary Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes forward-looking statements regarding Agility Health and its business. Such statements are based on the current expectations and views of future events of Agility Health's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release, including the anticipated future growth of Agility Health, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Agility Health undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Contact Information

  • Agility Health, Inc.
    Steven N. Davidson
    Chief Executive Officer
    (616) 356-5000

    Lambert, Edwards & Associates
    Timothy Sipols
    Media Contact
    (616) 233-0500