National Home Health Care sale closes
November 26 2007
National Home Health Care Corp. said Nov. 21 its sale to Angelo, Gordon & Co. has closed. National Home Health Care shareholders will receive $12.75 per share in cash, except for President and CEO Steven Fialkow who will receive his portion in a promissory note. Shareholders who aren't directors of officers of the company will also receive an extra 10 cents per share as part of a settlement to a shareholder lawsuit.
The company decided to sell to Angelo, Gordon & Co., a New York-based private equity firm, after receiving competing bids from Premier Home Health Care Services Inc.
Scarsdale NY-based National Home Health Care had revenue of $110.8 million in its fiscal year ending July 31. It provides home healthcare and staffing services in the Northeast.