Firm Closes Multi-Million Stock Sale
On 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.
