Today’s issue of WorkCompRecap eatures some more M&A news with ExamWorks’ recent announcement of its acquisition of Gould & Lamb, giving it a major position in the Medicare compliance services market.
Under the terms of the agreement, ExamWorks agreed to pay $75 million in cash at closing plus an earnout not to exceed $18 million based on full year 2014 financial performance. Gould & Lamb’s adjusted annual revenues and adjusted EBITDA for 2013 were approximately $27 million and $9.5 million, respectively. Gould & Lamb is expected to continue to operate as a standalone brand under the ExamWorks portfolio.
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