Biodyne Acquires AGCA

OPEN MINDS The Behavioral Health & Social Service Industry Analyst Industry News American Biodyne, Inc. of South San Francisco, California has signed a letter of intent to acquire privately-held Achievement and Guidance Centers of America Inc. (AGCA), of Newtown, Pennsylvania, and its affiliated entities. The letter of intent has been approved by the boards of directors of both companies. Upon execution of the letter of intent, Biodyne made a loan of $1 million to AGCA for working capital and fixed assets. Biodyne stockholders vote on the proposed merger at their annual meeting in February of 1992. The merger is . . .