Amneal to acquire majority interest in avkare, enhancing access to growing federal healthcare market

Amneal to acquire majority interest in avkare, enhancing access to growing federal healthcare market.amneal pharmaceuticals inc - deal for implied enterprise value of $340 million.amneal pharmaceuticals inc - following close of transaction, avkare will operate on a standalone basis as an independent subsidiary of amneal.amneal pharmaceuticals inc - amneal will acquire a 65.1% majority interest in avkare.amneal pharmaceuticals - contributed rollover interest will be retained by shirley family, avkare's founders.amneal pharmaceuticals - shirley family will continue to independently manage operations of business.amneal pharmaceuticals - co to partly finance purchase of avkare with a new $180 million senior secured term loan facility.amneal pharmaceuticals - new debt financing will be secured by newly formed unrestricted subsidiary & will not impact co's existing term loan facility.amneal pharmaceuticals inc - for twelve-month period ended october 31, 2019, avkare's unaudited consolidated ebitda was approximately $63 million.amneal pharmaceuticals - on a consolidated basis, transaction is expected to reduce co's net debt to adjusted ebitda leverage ratio.
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