Capital infusion will support company’s entry into $14.5 billion
Urgent Care Centers market
American CareSource Holdings (NASDAQ: ANCI) announced today that it has
closed a non-brokered private placement of 1 million shares at a price
of $2 per share for total proceeds of $2 million. The placement was
fully subscribed and was a private offering under the applicable
“We are delighted to have closed this private placement, the proceeds of
which we are immediately investing in our urgent care strategy. It
exemplifies the confidence and enthusiasm there is for our entry into a
quickly expanding market in which the company will distinguish itself as
the high-quality, patient-centric provider of conveniently available
affordable urgent care,” said Dr. Richard W. Turner, the company’s
Chairman and CEO.
The company recently announced its definitive agreement to acquire
substantially all of the assets of CorrectMed, including two urgent care
centers in the Atlanta metro area. The proceeds from the private
placement will facilitate the closing of the transaction.
Subsequent to the private placement, the company will have approximately
6.7 million common shares outstanding.
About American CareSource Holdings, Inc.
American CareSource Holdings is the first national, publicly traded
ancillary care network services company. The company offers a
comprehensive national network of more than 4,800 ancillary service
providers at more than 33,300 sites through its subsidiary, Ancillary
Care Services. ACS provides ancillary health care services through its
network that offers cost-effective adjunctive support that delivers
urgent and primary care through a network of free-standing centers as
well as its support of physician- and hospital-based services. These
providers offer services in 31 categories, including laboratories,
dialysis centers, free-standing diagnostic imaging centers, infusion
centers, long-term acute care centers, home health services and
non-hospital surgery centers, as well as durable medical equipment. The
company’s ancillary network and management provide a complete outsourced
solution for a wide variety of health care payors and plan sponsors,
including self-insured employers, indemnity insurers, PPOs, HMOs,
third-party administrators and both federal and local governments. For
additional information, please visit www.anci-care.com.
American CareSource Holdings
Matthew D. Thompson, CFO, 972-308-6830
Source: American CareSource Holdings