Illinois Firm to Acquire Affordable Health Care
Affordable Health Care Concepts of Sacramento has agreed to be acquired by Healthcare Compare Corp. in an exchange of stock, according to a filing with the Securities and Exchange Commission.
Under the terms of the May 12 merger agreement, Affordable Health Care’s three shareholders--Daniel Brunner, Jack Scanlon and Claire M. Lipschultz--will exchange their holdings in the data collection service for 390,000 newly issued Healthcare common shares, according to the filing.
The holders said they will also receive options to buy another 100,000 Healthcare common shares, raising their combined stake in the Downers Grove, Ill.-based concern to 490,000 common shares, or 10.4%.
The shareholders, who also serve as Affordable’s directors and its three top executives, plan to exchange 1,250 Affordable common shares.
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