Lexington, Ky.-based Cardiff Lexington, a healthcare company focused on orthopedics and spine care, has signed a letter of intent with the owners of a physician-led, multi-location musculoskeletal platform.
Under the proposed transaction, Cardiff Lexington would pay an aggregate purchase price consideration of up to $104 million, including $30 million in cash at closing, with Cardiff Lexington acquiring the equity interests of the acquisition target, according to a Sept. 24 news release from Cardiff Lexington.
The transaction is structured with the intent to retain the acquisition target’s existing leadership, physicians and employees while integrating the organization into Cardiff Lexington’s broader healthcare platform.
The letter of intent provides Cardiff Lexington with a 30-month option following closing to acquire certain healthcare facilities utilized by the acquisition target, which includes rights of first refusal thereafter.
“We believe this proposed combination has the potential to create a cornerstone regional healthcare platform for Cardiff Lexington as it is complementary with and synergistic to our existing Nova organization, and moreover, will be a force multiplier in accelerating our strategic long-term growth and expansion,” Alex Cunningham, CEO and chairman of Cardiff Lexington, said in the release. “The combination of an established physician-led clinical organization, complementary ancillary services and the opportunity for future ambulatory surgery center integration is closely aligned with our Nova Ortho and Spine operations and the healthcare strategy we are building.”
The letter of intent has a projected closing date for the transaction of Nov. 16, 2026, the release said.
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