National Home Health Care acquired by Angelo Gordon affiliate

By Lisa Kerner

Charlotte, N.C., Nov. 21 - The merger of National Home Health Care Corp. and affiliates of Angelo Gordon & Co. was completed as planned on Nov. 21. The companies extended the termination date of the merger agreement from Sept. 10, it was previously reported.

National Home Health stockholders will receive $12.75 per share in cash. Frederick H. Fialkow will receive a portion of his merger consideration by promissory note.

On May 10, National Home Health entered into an amended plan of merger with Angelo Gordon that upped the offer price to $12.50 per share in cash from $11.50 per share and eliminated the $7.9 million minimum EBITDA condition.

"Our management team is very proud of the successes that we have achieved over the past several years, providing the very best in clinical home care services to our patients," National Home Health president and chief executive officer Steven Fialkow said in a company news release.

"With the committed support of Angelo Gordon and Eureka Capital Partners, we now aim even higher."

National Home Health is a Scarsdale, N.Y., home health care and staffing services company.

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