American Oncology Network, Inc.: M&A transaction — American Oncology Network completes acquisition of Central Georgia Cancer Care for ~$13.3M

American Oncology Network, Inc.

Acquisition of CGCC assets for $4.6M cash, $6.4M promissory note (60-month term), and ~$2.3M for inventories.
CGCC had $102.7M patient revenue in 2023, net loss of $1.03M, and total assets of $18.6M.
$6.4M note requires monthly payments of $106,667 plus interest at AON's variable borrowing cost.
CGCC operates two oncology practice locations in Macon and Warner Robins, Georgia.
Amendment corrects omitted date in audit report; no change to prior disclosure.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

American Oncology Network, Inc. completed an acquisition involving Central Georgia Cancer Care, P.C. shareholders for $4.6 million cash, $6.4 million promissory note, and approximately $2.3 million cash for inventories (closed 2024-04-01).

Action: acquisition
Counterparty: Central Georgia Cancer Care, P.C. shareholders
Consideration: $4.6 million cash, $6.4 million promissory note, and approximately $2.3 million cash for inventories
Closing: 2024-04-01

Exact text from the filing

On April 1, 2024, consolidated subsidiaries of American Oncology Network, Inc. (“AON” or the “Company”) acquired certain clinical and non-clinical assets of Central Georgia Cancer Care, P.C., (“CGCC”) from the CGCC shareholders for consideration consisting of (i) a cash payment in the amount of $4.6 million, (ii) a promissory note in the amount of $6.4 million under which the terms require principal and interest payments in monthly installments over 60 months commencing May 1, 2024, and (iii) a cash payment of approximately $2.3 million for acquired inventories, (the “CGCC Acquisition”).

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Source: SEC EDGAR

accession 0001140361-24-050397

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