Also inquired by email and got this note back from very responsive Cole... very encouraging!
As per our August corporate presentation, uploaded on our website, we expect our Arizona Vein & Vascular acquisition to close within 90 days from the time of the announcement.
This is public information as per our marketing day with PI Financial:
The Arizona Vein & Vascular Center (AVVC) is expected to close at the same time as management expects to announce a new US$70M refinancing. This new debt will be used to retire the existing debt, pay for the AVVC acquisition and still have money left over for working capital. Nobilis has already done a soft launch of AVVC’s procedures in Houston and Dallas. We believe if AVVC can do US$20M in revenue in thePhoenix/Tucson market, the Company should be able to do a similar amount of business in each of their Texas markets. NHC can push their other procedures through AVVC’s four ASC’s, creating more revenue and EBITDA.
In late October, Nobilis announced that it had acquired an ASC
in the SE Houston area. This 8,387 square-foot facility has two
operating suites, four pre-op beds and four recovery beds. It was
acquired for a nominal amount and expands Nobilis’ reach. This facility
will take several months to ramp up.
Nobilis signed an agreement with Morgan Stanley.
Morgan Stanley will provide M&A advice as well as help with the
financing of any acquisition. We expect this will result in increased deal
flow to the Company and possibly more acquisitions in the future.