Accentia Biopharmaceuticals (ABPI) Completes Sale of Analytica Group Subsidiary
12/20/2011 6:54:46 AM
TAMPA, Fla.--(BUSINESS WIRE)--Accentia Biopharmaceuticals, Inc. (OTCQB: ABPI) today announced that is has completed its planned transaction to sell the assets and business of its non-strategic business unit, Analytica International, Inc., a healthcare economics consulting firm, for up to $10 million (USD) being paid in a combination of fixed and contingent payments by the purchaser, LA-SER Alpha Group Sarl. Accentia divested its health care economics consulting business conducted by Analytica, which Accentia does not consider to be critical to its ongoing biotech development activities. Based on a separate agreement with the Company’s senior secured lender, Accentia prepaid $4 million in principal with funds from the Analytica asset sale and obtained a one-year extension of all remaining principal and interest payments from the lender.