ARV Acquires SynCare
COSTA MESA —
ARV Assisted Living Inc. completed its acquisition of health services provider SynCare Inc. for $1.2 million of stock.
ARV said it issued 85,146 new shares valued at $13.75 a share, the company’s closing stock price on Aug. 19.
SynCare, based in Newport Beach, offers physical, occupational and speech therapies, primarily to residents of assisted living facilities. The company had about $4.8 million of revenue in its fiscal year ended June 30.
ARV operates assisted living facilities.