RehabCare expands credit facility to $150 million for Symphony purchase

By Sara Rosenberg

New York, May 3 - RehabCare Group Inc. expanded its senior credit facility commitment to $150 million from $90 million as part of its proposed acquisition of Symphony Health Services, according to a company news release.

Under the purchase agreement, RehabCare will pay $101.5 million for Hunt Valley, Md.-based Symphony Health, a provider of contract therapy services with annual revenue of over $230 million.

The acquisition is expected to close on or about June 30.

RehabCare is a St. Louis-based provider of physical rehabilitation program management services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.