Teleradiology services provider NightHawk Radiology of Coeur D'Alene, ID, has reached a deal to buy 3 million shares of stock owned by company founder Dr. Paul Berger.
NightHawk said it would pay $4.63 per share for the stock, giving the deal an aggregate value of $13.9 million. The price represents a 6% discount from the closing price of NightHawk shares on August 12, the effective date of the agreement.
Berger stepped down as chairman of NightHawk in June after saying that the company had embarked on a business strategy that in good conscience he could not support.
Related Reading
NightHawk posts Q2 revenue growth, August 6, 2009
Berger leaves NightHawk, June 15, 2009
NightHawk numbers slip in Q1, May 4, 2009
NightHawk expands into Canada, December 9, 2008
Berger leaves as NightHawk Radiology's CEO, November 19, 2008
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