Olshan Represents Healthcare Services in Connection with Registration Statement
Olshan represented Healthcare Services Group, Inc., a Nasdaq-listed provider of housekeeping, laundry, dining and nutrition services to the healthcare industry in the shelf registration of 1,214,646 shares of its common stock. All the newly registered shares were issued in connection with Healthcare’s acquisition of substantially all the assets of Platinum Health Services, LLC, a privately-held provider of professional housekeeping, laundry and maintenance services to long-term and post-acute care facilities. Platinum’s assets were acquired for approximately $3,800,000 [in cash], assumed debt of approximately $1,200,000, and the aforementioned shares of Healthcare’s common stock (valued at $24.75 per share). Upon achieving certain financial and retention targets, Platinum will be eligible for contingent consideration paid by the future issuance of Healthcare’s common stock. Robert Frome and Kenneth Schlesinger comprise the Olshan team that represented Healthcare in this matter.