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[STK]
[IN] HEA MTC
[SU] TRI
TO HEALTH, AND MEDICAL EDITORS:
Board-certified Neurophysiology Specialist Shane P. Rabalais
Liquidating Asset Portfolio as Part of Estate Planning and Charitable
Foundation Seeding
NEW YORK, March 20, 2014 /PRNewswire/ -- After 20-plus years
establishing a reputation as a highly proficient technical director in
neurophysiological testing, Shane P. Rabalais has decided to sell his
entire asset portfolio as step one in simplifying his life, and
getting a better handle on estate planning. Simplifying in this case
also means spending more quality time with his young daughter, who has
cerebral palsy.
The principal asset for sale is Neurology Monitoring Services (NMS), a
leader in neurological testing since 1994. Healthcare Private Equity
Investments, LLC is the top bidder. As of March 18, the bid for these
assets stands at $3.8 million; $2.5 million of that bid consists of
long-term restricted annuitization. The remaining $1.3 million is
cash, which will go toward capital gains taxes associated with the
sale as well as providing seed funding for a private foundation. Asset
Capital Advisors is currently analyzing bids that meet a stringent set
of criteria. More information on this foundation will be forthcoming
once the sale is finalized.
Assets of NMS include a contracted directorship and all
neurophysiological testing modalities, as well as all current, active
contracts with clinics and hospitals. Physical assets include
neurology monitoring equipment and four subsidiary LLCs operating
under the Neurology Monitoring Services umbrella. Two of these LLCs
hold a significant stake in freestanding MRI centers. A Special Needs
Trust comprises the remaining portion of the assets package.
One notable condition of the sale is that Rabalais will not stay on as
a consultant, which industry analysts concur reduces the price by 10
or 15%. However, maximizing the financial windfall is not the
objective. Rabalais was in New York City with counsel on March 18 and
19; all parties agreed to the sale's terms and stipulations.
Recognizing the scope and complexity of such a transaction, Rabalais
sought an objective portfolio assessment from Asset Capital Advisors.
Several other organizations have also earned hearty thanks:
PricewaterhouseCoopers has been instrumental in the accounting and
estate planning arenas. Rabalais has also secured expert legal counsel
throughout the sale process.
Despite selling the company he built from the ground up, Rabalais has
no intention of retiring. Health permitting, he hopes to focus more on
neuroscience research, a field to which he has already contributed a
lifetime's worth of achievements. Indeed, Rabalais has had significant
input on much of the hardware and software design of all modern
recording and monitoring technology.
About Neurology Monitoring Services
Headquartered in Louisiana, Neurology Monitoring Services has been at
the forefront of neurophysiological testing procedures, from highly
complex critical care to routine testing, since 1994. Shane P.
Rabalais is currently majority shareholder and president; due to his
broad expertise and leadership, he has received (and declined)
numerous requests to remain with the company as a consultant following
the sale.
Media contact:
Andrew Legrand Andrew Legrand Law, LLC (504) 300-9938 Email
Read more news from Shane P. Rabalais.
SOURCE Shane P. Rabalais
-0- 03/20/2014
CO: Shane P. Rabalais
ST: New York
IN: HEA MTC
SU: TRI
PRN
-- PH86922 --
0000 03/20/2014 12:40:00 EDT http://www.prnewswire.com
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