M&A - SELECTIS HEALTH, INC.

Form Type: 8-K

Filing Date: 2025-02-13

Corporate Action: Acquisition

Type: New

Accession Number: 000149315225006371

Filing Summary: On February 7, 2025, Selectis Health, Inc. finalized Purchase and Sale Agreements (PSA) involving the sale of its wholly-owned subsidiaries' skilled nursing facilities located in Georgia. The subsidiaries involved are Global Abbeville Property, LLC, Dodge NH, LLC, and ATL/WARR, LLC, with the purchaser being Abbeville Propco Holdco, LLC. The facilities include Glen Eagle Healthcare & Rehab in Abbeville, Eastman Healthcare & Rehab in Eastman, Providence of Sparta Health and Rehabilitation in Sparta, and Warrenton Health and Rehabilitation in Warrenton, collectively valued at approximately $27 million. This transaction is contingent upon various conditions including satisfactory completion of due diligence. Additionally, Operations Transfer Agreements (OTA) were executed for transferring the operations from existing operators to new operators affiliated with the purchaser. An Escrow Agreement was also established for an initial deposit of $500,000 to hold pending the completion of the sale. The completion of these agreements is subject to customary conditions typically associated with such transactions.

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