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American Medical to merge with Florida health care firm For several months, American Medical Technologies has been fending off creditors, fighting to keep its NASDAQ listing and seeking new sources of capital.
Now the Houston-based home therapy company will sell all of the stock in its only operating entity to a Florida home health care firm.
In the transaction, American Medical is exchanging all of the stock of the company's sole operating subsidiary, Vital-Care of America Inc., to Orlando-based RoTech Medical Corp. for 675,000 of RoTech's shares outstanding.
American Medical has the option to acquire 337,500 more shares of RoTech stock within the …