11-4-15 Woods Oviatt is Lead Counsel for First Choice Evaluations in Their Sale to ExamWorks.
Christian J. Henrich, Esq. was lead Counsel for First Choice Evaluations in their sale to ExamWorks. The acquisition information is highlighted below.
ExamWorks Reports Third Quarter 2015 Financial Results; Revenues of $206.0 Million; Adjusted EBITDA of $37.1 Million; Announces Acquisition; and Announces up to $75 Million Stock Repurchase Authorization
ATLANTA, GA--(Marketwired - Nov 4, 2015) - ExamWorks Group, Inc. (NYSE: EXAM), a leading provider of independent medical examinations, peer reviews, bill reviews, Medicare compliance services, case management services, and other related services ("IME services"), today reported financial results for the third quarter of 2015.
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Third Quarter 2015 and Other Highlights
- Revenues for the third quarter of 2015 were $206.0 million, an increase of $2.0 million, or 1.0%, over the year-ago quarter revenues of $204.1 million. On a constant currency basis, revenues increased 6.5%, with organically generated revenues increasing 6.0% during the third quarter of 2015. Currency headwinds negatively impacted reported revenues this quarter by approximately $11.3 million when compared to the prior year quarter.
- Adjusted EBITDA for the third quarter of 2015 was $37.1 million (18.0% of revenues), an increase of $1.0 million, or 2.8%, over the year-ago quarter adjusted EBITDA of $36.1 million. Adjusted EBITDA is a non-GAAP measure that is described and reconciled to net income below and is not a substitute for the GAAP equivalent.
- On October 30, 2015, completed the acquisition of substantially all of the assets of First Choice Evaluations, an IME provider based in Buffalo, NY, with annual revenues of approximately $24 million.
