MBF Healthcare Acquisition Corp. Amends Stock Purchase Agreement With Critical Homecare Solutions Holdings, Inc. to Extend Termi
03 September 2008 - 7:07AM
PR Newswire (US)
CORAL GABLES, Fla., Sept. 2 /PRNewswire-FirstCall/ -- MBF
Healthcare Acquisition Corp. (AMEX:MBH), a publicly traded special
purpose acquisition company, announced today the amendment of the
Stock Purchase Agreement for MBH's proposed acquisition of Critical
Homecare Solutions Holdings, Inc. ("CHS"), based on the signed
definitive stock purchase agreement dated February 6, 2008 (the
"Stock Purchase Agreement"). CHS is a privately-owned, leading
provider of comprehensive home infusion therapy and specialty
infusion services. MBH, CHS and the Sellers have agreed to extend
the termination date of the Stock Purchase Agreement as October 31,
2008, given that the parties have agreed that the conditions set
forth previously have been met. On August 28, 2008, MBH executed a
new financing commitment with CIT Healthcare and Jefferies Finance
LLC, in connection with the transactions contemplated by the Stock
Purchase Agreement. As previously announced, MBH was engaged in
seeking alternative sources of financing given that its financing
commitment letter with Jefferies Finance LLC, dated February 6,
2008, expired pursuant to its terms on July 31, 2008. MBH will
reflect the changes in the transaction in an amendment to the
preliminary proxy statement to be filed with the Securities and
Exchange Commission and anticipates commencing the road show in
October. About MBF Healthcare Acquisition Corp. MBH is a special
purpose acquisition company formed for the purpose of acquiring,
through a merger, capital stock exchange, stock purchase, asset
acquisition or other similar business combination, one or more
operating businesses in the healthcare industry. About Critical
Homecare Solutions Holdings, Inc. CHS is a leading provider of
comprehensive home infusion therapy and specialty infusion services
to patients suffering from acute or chronic conditions. CHS
delivers over 400,000 infusion pharmaceuticals, biopharmaceuticals,
nutrients and related services each year to patients in the home
through 35 infusion locations in 16 states, primarily in the
eastern United States. CHS also provides over 350,000 nursing and
therapy visits and approximately 600,000 private duty nursing hours
each year to patients in the home through 34 home nursing locations
in three states. CHS currently provides customized local clinical
care to approximately 21,000 patients through its branch network
and has relationships with approximately 450 payors, including
insurers, managed care organizations and government payors. For
more information on CHS please visit the company website at
(http://www.criticalhs.com/). The information included on the CHS
website is not incorporated by reference into this press release or
in any filing with the Securities and Exchange Commission (SEC).
Additional Information and Where to Find It On June 3, 2008, MBH
filed an amended preliminary proxy statement concerning the
proposed transaction, which is subject to review by the SEC. MBH
stockholders and other interested persons are urged to read the
proxy statement and other relevant materials when they become
available as they will contain important information about MBH, CHS
and the proposed transaction. Such persons can also read MBH's
final prospectus dated April 17, 2007, for a description of the
security holdings of the MBH officers and directors and their
respective interests in the successful consummation of the proposed
transaction. The definitive proxy statement will be mailed to
stockholders as of a record date to be established for voting on
the proposed transaction. MBH stockholders will be able to obtain a
free copy of the definitive proxy statement through the SEC's
internet website (http://www.sec.gov/). Copies of the proxy
statement can also be obtained, without charge, by directing a
request to MBF Healthcare Acquisition Corp., 121 Alhambra Plaza,
Suite 1100, Coral Gables, FL 33134. Participants in Solicitation
MBH and its directors and executive officers and CHS and its
directors and executive officers may be deemed to be participants
in the solicitation of proxies from the holders of MBH stock in
respect of the proposed transaction. Investors may obtain
additional information regarding the interest of such participants
by reading the definitive proxy statement relating to the proposed
transaction and MBH's Annual Report on Form 10-K for its fiscal
year ended December 31, 2007 when they become available. Forward
Looking Statements Any statements contained in this press release
that do not describe historical facts may constitute
forward-looking statements as that term is defined by the United
States Private Securities Litigation Reform Act of 1995. Any such
forward-looking statements contained herein are based on current
expectations, but are subject to a number of risks and
uncertainties that may cause actual results to differ materially
from expectations such as material adverse events affecting MBH and
CHS, their ability to complete a business combination and those
other risks and uncertainties detailed in their filings with the
SEC. MBH and CHS caution readers not to place undue reliance upon
any forward-looking statements, which speak only as of the date
made. MBH and CHS do not undertake or accept any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statement to reflect any change in their
expectations or any change in events, conditions or circumstances
on which any such statement is based. Contacts: Stephanie
Carrington/Jared Hoffman The Ruth Group 646-536-7017 / 7013
DATASOURCE: MBF Healthcare Acquisition Corp. CONTACT: Stephanie
Carrington, +1-646-536-7017, , or Jared Hoffman, +1-646-536-7013, ,
both of The Ruth Group Web site: http://www.criticalhs.com/
http://www.sec.gov/
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