SOUTHBOROUGH, Mass.--(BUSINESS WIRE)--Averion International Corp. (OTCBB:AVRO) today announced that it will focus on its core clinical research organization (CRO) business and has sold its staffing services operating segment to members of its management. Under terms of the sale, Averion is due to receive a total consideration of approximately $2.3 million with an upfront cash payment of $455,000, deferred payments totaling $250,000 and unsecured promissory notes with an approximate face value of $1.6 million. The ability of the buyer to make deferred payments and payments under the unsecured promissory notes will be dependent upon the buyer’s ability to generate positive future cash flow.
