Graymark Healthcare (GRMH) to Acquire Foundation Surgical Hospital Affiliates

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Graymark Healthcare, Inc. (NASDAQ: GRMH) and Foundation Healthcare Affiliates, LLC today jointly announced the signing of a definitive agreement for Graymark to acquire 100% of the equity interest of Foundation Surgical Hospital Affiliates, LLC, and Foundation Surgery Affiliates, LLC from Foundation Healthcare Affiliates in a transaction valued at $1.10 per common share for an aggregate transaction value of approximately $52.5 million.

Foundation/Graymark will be the name post closing.

At closing, Graymark will issue a combination of common stock and preferred stock to the shareholders of Foundation Surgical Hospital Affiliates and Foundation Surgery Affiliates. In addition, Graymark will issue warrants covering 4 million shares of its common stock exercisable at $1.50 per share.

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