Law offices of howard g. smith announces investigation on behalf of shareholders of novamed, inc., in connection with the proposed acquisition of the company by surgery center holdings, inc.

Bensalem, pa.--(business wire)--law offices of howard g. smith announces that it is investigating potential claims against the board of directors of novamed, inc. (“novamed” or the “company”) (nasdaq:nova) related to the company’s agreement to be acquired by an affiliate of surgery center holdings, inc. (“surgery partners”). surgery partners is an affiliate of the private equity firm h.i.g. capital, llc. the proposed transaction is valued at approximately $214 million, including assumed debt. under the terms of the definitive merger agreement entered into by the parties, novamed shareholders will receive $13.25 in cash for each share they own of the company’s common stock. the proposed transaction was unanimously approved by novamed’s board of directors. the transaction is expected to be completed in the second quarter of 2011. the investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by novamed’s board of directors. if you are a shareholder of novamed, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact howard g. smith, esquire, of law offices of howard g. smith, 3070 bristol pike, suite 112, bensalem, pennsylvania 19020 by telephone at (215) 638-4847, toll free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.
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