IntegraMed America, Inc. (NASDAQ: INMD) (“IntegraMed” or “the Company”), a leader in developing, marketing and managing specialty healthcare facilities in the
markets, announced today that it has entered into a definitive agreement to be acquired by affiliates formed by Sagard Capital Partners, L.P. (“Sagard Capital”), an investment fund and IntegraMed shareholder, for $14.05 per share in cash, or a total equity purchase price of $169.5 million. The consideration represents a 24% premium to IntegraMed’s closing stock price of $11.34 on June 8, 2012, the last trading day prior to today’s announcement, and a 46% premium to IntegraMed’s average daily closing price over the past year.
Jay Higham, Chairman, CEO and President of IntegraMed, commented, “This transaction delivers on two of our key objectives, as we have secured a premium to IntegraMed’s share price and a long-term partnership with a respected investor. With Sagard, we will have the additional financial flexibility to continue investing in the growth of our business. Sagard is a long-term investor, and this transaction demonstrates their confidence in the Company’s fundamental business operations and growth prospects. Furthermore, we believe that Sagard’s principals respect and value the unique team of physicians, clinic staff and management that are the foundation of IntegraMed’s success.”
Dan Friedberg, Managing Partner of Sagard Capital, said, “We are excited about this transaction and partnership. IntegraMed has built a powerful business model anchored by a strong and experienced team of medical, clinical and administrative personnel and by its management and support services. They have consistently provided the highest levels of patient care and treatment innovation, while also delivering strong financial performance at above-industry growth rates. We look forward to working together with the IntegraMed team and providing the resources and support for the Company’s continued growth and success.”