Grand Rapids, Mich.-based Agility Health Inc. completed the previously announced sale of its U.S. assets after receiving shareholder approval and final approval from the TSX Venture Exchange.
The assets, held by Agility Health LLC, were sold to Alliance Physical Therapy Management LLC for $45 million.
Of the total consideration, Agility Health will use about $1 million for general working capital purposes and capital for its Canadian unit Medic Holdings Corp., which will be its primary business and asset after the deal.
Agility Health said the sale facilitates the restructuring of its capital structure.
Alliance Physical Therapy Management is a unit of Alliance Physical Therapy Partners LLC, which is a portfolio company of GPB Capital Holdings LLC.
