Biodyne Restructure Acquisition of AGCA

OPEN MINDS The Behavioral Health & Social Service Industry Analyst Industry News American Biodyne Inc. has restructured its acquisition of Achievement and Guidance Centers of America (AGCA). The initial letter of intent indicated that Biodyne would acquire AGCA in a merger transaction. After further discussion, Biodyne and AGCA have decided to structure the acquisition as a purchase by Biodyne of all the outstanding capital stock of AGCA. In consideration for the stock, Biodyne has agreed to pay the shareholders of AGCA $5 million in cash at closing, plus two cash payments that will be based upon the operating profits of . . .