Agility Health Inc.
TSX VENTURE : AHI

Agility Health Inc.

November 07, 2016 13:20 ET

Agility Health's Engagement of Echelon Wealth Partners and Discussions With Alaris

GRAND RAPIDS, MICHIGAN--(Marketwired - Nov. 7, 2016) - Trading of shares of Agility Health, Inc. (TSX VENTURE:AHI) ("Agility Health" or the "Company") were halted on November 3, 2016 and November 4, 2016 pending discussions between Alaris USA, Inc. ("Alaris") and Agility Health regarding the Company's review of alternatives to redeem all of the units ("Units") of the Company's subsidiary held by Alaris. Agility Health has informed Alaris that discussions are taking place with respect to a possible transaction to complete the redemption of Alaris' Units, although no agreements have been finalized as of the date hereof. To facilitate this potential transaction, Agility Health is engaging Echelon Wealth Partners of Toronto, Canada as its investment banking advisor.

Alaris delivered a redemption demand (based on alleged defaults with which the Company disagrees) to the Company demanding resolution of the redemption of its Units within a 90-day period commencing on November 2, 2016. Agility Health will continue to work together with Alaris towards a redemption of the Units held by Alaris.

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 June 30, 2016, Agility Health operates 88 outpatient or onsite rehabilitation locations in 16 states. Agility Health's contract therapy services business provides rehabilitative services to 39 hospitals and inpatient rehabilitation units, 27 nursing homes, long-term care facilities and other service locations in 8 states. For more information, please visit investors.agilityhealth.com.

Forward-Looking Information

This press release contains 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 Agility Health's plans to identify, examine and consider alternatives that could result in the repurchase of the Alaris Class B Units and Class C Units, 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 assumption 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 review any forward‐looking statement, whether as a result of new information, future events, or otherwise.

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

Contact Information

  • Steven N. Davidson
    Chairman and Chief Executive Officer
    (616) 356-5000

    Ray Matthews
    Ray Matthews and Associates
    (604) 818-7778
    ray@raymatthews.ca