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PainCare Holdings, Inc. (PRZ) Signs Definitive Agreement to Sell The Gables Surgical Center in South Florida



8/6/2007 8:40:33 AM

ORLANDO, Fla., Aug. 6 /PRNewswire-FirstCall/ -- PainCare Holdings, Inc. (AMEX: PRZ - News), one of the nation's leading providers of pain-focused medical and surgical solutions and services, today announced that it has signed a formal Definitive Agreement with Surgery Partners, LLC, providing for the sale of PainCare's controlling interest in PSHS Beta Partners, Ltd., d/b/a The Gables Surgical Center, located in Coral Gables, Florida. Subject to necessary regulatory approvals, the closing of the transaction will net PainCare approximately $4.4 million in cash proceeds. Actual terms and conditions related to this sale transaction will be fully detailed in a Form 8-K to be filed with the U.S. Securities and Exchange Commission.

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