TORONTO--(BUSINESS WIRE)--Greenbrook TMS Inc. (TSX: GTMS) (NASDAQ: GBNH) (“Greenbrook” or the “Company”), a leading provider of Transcranial Magnetic Stimulation (“TMS”) therapy in the United States, is pleased to announce the closing of the acquisition of Achieve TMS East, LLC (“Achieve TMS East”) and Achieve TMS Central, LLC (“Achieve TMS Central”, and together with Achieve TMS East, “Achieve TMS East/Central”).
The initial aggregate purchase price for Achieve TMS East/Central was US$8.0 million, net of Achieve TMS East/Central’s cash and debt and subject to customary working capital adjustments. In addition, a portion of the total purchase price payable in respect of the Acquisition is subject to a capped earn-out of up to an additional US$2.5 million based on the financial performance of Achieve TMS East during the twelve-month period following completion of the acquisition.
Bill Leonard, President and CEO commented: “I am thrilled to announce that we have acquired Achieve TMS East and Achieve TMS Central, adding 17 centers into the Greenbrook family. This acquisition brings the Greenbrook care experience to more communities, and further strengthens our platform for sustained growth. Changing patients’ lives for the better is the fuel that motivates our work. I’m excited to welcome Achieve TMS East and Achieve TMS Central into the Greenbrook family and look forward to the impact we will all have together.”
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