ExamWorks Agrees To Be Acquired By Leonard Green In $2.2 Bln Deal

(RTTNews) - ExamWorks Group Inc.(EXAM), a provider of independent medical examinations, peer reviews, bill reviews, Medicare compliance services, case management services, record retrieval services, document management services and other related services, said that it agreed to be acquired by an affiliate of Leonard Green & Partners, L.P., for $35.05 per share in cash, representing a total transaction value of about $2.2 billion.

The offer price represents a 22% premium to the 90 day volume weighted average closing price of ExamWorks shares as of April 26, 2016.

The merger is subject to approval from ExamWorks shareholders and other customary closing conditions. The transaction is currently expected to close in the third quarter of 2016.

ExamWorks' Board of Directors, on the recommendation of a special committee composed entirely of independent directors (the "Special Committee"), approved the merger agreement and recommend that the Company's shareholders vote in favor of the transaction. In accordance with the merger agreement's "go shop" provision, the Company will conduct a market test for 25 business days concluding June 1, 2016.

The company expects to release its first-quarter 2016 earnings press release on or before May 10, 2016.