American HomePatient bought by Highland Capital 0
The Tennessee medical equipment provider American HomePatient has been bought by Highland Capital which is a hedge fund that is based out of Dallas. The issue is that American HomePatient is on the brink of bankruptcy and this stake sale to Highland Capital will help it go private and avoid full blow bankruptcy. The fact of the matter is that Highland Capital already owns 48% of the stock of American HomePatient and it would be paying around 67 cents per share to buy out all the other stakeholders thus making it a privately held company going forward. This is the second attempt of Highland Capital to buy out all the stake of American HomePatient after 2006 when it had happened.
American HomePatient has had bad times and its stock has been trading below $1 for some time now. In December last year its share hit an all time low of just 10 cents. This is one of the main reasons why American HomePatient had to opt for this stake sale which would help in its way out of bankruptcy. The stake sale is going to be put to the vote by American HomePatient after which it hopes to get reincorporated by the sale of the whole stake to Highlander Capital.
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