Business
Alternate Health Acquires Stake in Clover Trail Capital LLC
Alternate Health Acquires Stake in Clover Trail Capital LLC.
About this update from Alternate Health Corp
[{"type":"text","content":"\n\n\n\nAlternate Health Acquires Stake in Clover Trail Capital LLC\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nAlternate Health Acquires Stake in Clover Trail Capital LLC\nCanada NewsWire\nPLANO, TX, March 9, 2017\n\n\n\nAcquisition Includes Partial Ownership of Sun Clinical Laboratories\n\n\n\nPLANO, TX, March 9, 2017 /CNW/ - Alternate Health Corp. (CSE:AHG) (OTC:ATEHF) (the \"Company\"), a diversified healthcare services company that uses its expertise in technology to revolutionize patient care and service delivery, announced today that it has reached an arms-length agreement to acquire a 20 percent interest in Clover Trail Capital LLC (\"Clover Trail\"), a Texas-based investment company. The acquisition is valued at US $5.5 million. \n\n\n \n \n\n \nClover Trail's investments include a comprehensive laboratory, performing complex lab studies for both toxicology and blood, servicing hospital groups, private insurance groups and large clinics. The acquisition gives Alternate Health Corp. an ownership in Sun Clinical Laboratories LLC, which is 40 percent owned by Clover Trail, and currently refers toxicology and blood samples to the Company's subsidiary Alternate Health Labs, Inc.\n\nAlternate Health Corp. has operations in the United States and Canada. In addition to laboratory services, it is a leader in proprietary software applications for the medical industry. \n\n\"We are delighted to be joining forces with Clover Trail,\" said Bryan Korba, Chairman and Chief Executive Officer of Alternate Health. \"It is an excellent opportunity for us to grow and increase the effectiveness of Alternate Health Labs, already a leading source of revenue for us and a key part of our strategy to fundamentally advance patient care.\" \n\nThe Company funded the acquisition through an issuance of 4,557,150 common shares, subject to a four-month holding period and an 18 month term note of US$ 1,993,750 payable to one of the sellers. After January 2018, the sellers have an option to put additional ownership of Clover Trail to the Company. Any future s...