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Firm Closes Multi-Million Stock Sale

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Richard Ahsler and Robert ManettaOn April 9, 2018, the firm, led by partner Richard Ahsler, and capably assisted by associate Robert Manetta, successfully closed a multi-million dollar stock sale on behalf of our client, Nationwide Imaging Services, Inc. Nationwide is an international broker, re- conditioner/re-seller, parts supplier, and servicer of numerous kinds of medical imaging equipment. Founded in 1993, Nationwide is a world-class, certified provider of reconditioned and used MRIs, CT scanners and similar equipment. Based in Manasquan, New Jersey, Nationwide operates a 117,000 square foot facility that includes administrative and executive offices, a machine shop, 15 loading bays, crating and staging areas, storage areas, and similar warehouse space.

In the transaction, Nationwide’s shareholders sold all of their stock to Merry X-Ray Corporation, a veteran of the medical imaging profession. Founded in 1958 and based out of San Diego, California, Merry X-Ray’s product portfolio includes new and reconditioned equipment offerings to hospitals, imaging centers, physician offices, standalone emergency rooms and veterinarians across the United States.

The deal required extensive and protracted drafting and negotiation by the firm’s attorneys on numerous, complex transaction documents, including stock purchase agreement, escrow agreement, phantom share surrender agreement, net working capital calculations, equipment financing payoffs, and ancillary agreements.

DiFrancesco, Bateman, Coley, Yospin, Kunzman, Davis, Lehrer & Flaum PC (http://www.dbnjlawblog.com) is a full service law firm in New Jersey which provides a broad range of legal services.

The information contained in this blog is intended solely for informational purposes; it is a advertising publication of DiFrancesco, Bateman, Coley, Yospin, Kunzman, Davis, Lehrer & Flaum P.C.This publication is intended to alert recipients of developments in the law and is not intended to provide legal counsel, advice or opinion on any specific facts or circumstances. The contents are intended as general information only. You are urged to consult a member of this firm or your own attorney concerning your particular situation and any specific legal questio.