Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of NovaMed, Inc., in Connection with the Pro...
January 21 2011 - 7:30PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
NovaMed, Inc. (“NovaMed” or the “Company”) (NASDAQ:NOVA) related to
the Company’s agreement to be acquired by an affiliate of Surgery
Center Holdings, Inc. (“Surgery Partners”). Surgery Partners is an
affiliate of the private equity firm H.I.G. Capital, LLC. The
proposed transaction is valued at approximately $214 million,
including assumed debt.
Under the terms of the definitive merger agreement entered into
by the parties, NovaMed shareholders will receive $13.25 in cash
for each share they own of the Company’s common stock. The proposed
transaction was unanimously approved by NovaMed’s board of
directors. The transaction is expected to be completed in the
second quarter of 2011. The investigation concerns possible
breaches of fiduciary duty and other violations of law related to
approval of the proposed transaction by NovaMed’s board of
directors.
If you are a shareholder of NovaMed, if you have information or
would like to learn more about these claims, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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