Key Developments For Dynacq Healthcare, Inc.
Dynacq Healthcare, Inc. (DYII.O) (Consolidated Issue listed on NASDAQ Global Market)
Dynacq Healthcare, Inc. Announces Consummation Of Sale Of Baton Rouge Hospital
Dynacq Healthcare, Inc. announced the completion of the sale of the land, buildings and tangible assets of Vista Surgical Hospital of Baton Rouge, Louisiana to the State of Louisiana. The closing of the sale was delayed and the sales price was reduced as a result of the receipt by the State of Louisiana of an appraisal of the real property and other assets in an amount less than the $20 million purchase price agreed to between the parties in the Purchase and Sale Agreement entered into on November 8, 2007.
Dynacq Healthcare, Inc.'s Subsidiary Announces Sale Of Baton Rouge Hospital
Dynacq Healthcare, Inc. announced that its wholly owned subsidiary entered into a Purchase and sale agreement with the State of Louisiana for the sale of the land, buildings, tangible assets and inventory of Vista Surgical Hospital of Baton Rouge, Louisiana for $20 million in cash. The closing of the sale is anticipated to take place on or before December 14, 2007.
Dynacq Healthcare, Inc. Settles Class Action Litigation
Dynacq Healthcare, Inc. announced that it has reached an agreement in principle to settle the shareholder class action lawsuit pending against it for the amount of $1.5 million. The amount of the settlement will include payment of all administrative costs and class attorneys' fees as well as the payout to the class. The $1.5 million will be paid $100,000 within 30 days of final approval of the settlement by the court and the balance in 36 equal monthly interest bearing installments beginning 30 days thereafter. The settlement will fully release the Company, its two executive officers named as defendants and its subsidiaries from liability and prohibits the filing of any future claims by the members of the class relating to this matter.
Dynacq Healthcare, Inc. Announces Termination Of Agreement To Sell Its Baton Rouge Hospital Assets
Dynacq Healthcare, Inc. announced the termination of its agreement to sell the assets of its Baton Rouge Hospital to Physicians Medical Centre of Baton Rouge, through no fault of the seller. The Purchase Agreement was entered into on February 22, 2006 and terminated on March 7, 2006.
Dynacq Healthcare, Inc. Announces Sale of Its Baton Rouge Hospital Assets
Dynacq Healthcare, Inc. announced that it has signed an agreement with Physicians Medical Centre of Baton Rouge for the sale of all the assets, except the accounts receivable, at its Baton Rouge Hospital for approximately $26.5 million in cash. Under the terms of the sale agreement, the parties will attempt to complete and sign definitive documentation by June 2006
