Avante Health Solutions (“Avante” or “the Company”), a leading provider of aftermarket service, repair, and refurbishment for medical equipment, announces that the Company has entered into an Asset Purchase Agreement (“APA”) with an affiliate of Staple Street Capital (“SSC”), pursuant to which Staple Street Capital will acquire substantially all of the Company’s assets. The agreement will support the recapitalization of Avante, enabling the Company to deleverage its balance sheet and continue operating and serving customers over the long-term. To facilitate the transaction, Avante has filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.
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Source: https://www.prnewswire.com/news-releases/avante-health-solutions-enters-into-asset-purchase-agreement-with-an-affiliate-of-staple-street-capital-302270424.html