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DYII > SEC Filings for DYII > Form 8-K on 17-Jul-2013All Recent SEC Filings

Show all filings for DYNACQ HEALTHCARE INC

Form 8-K for DYNACQ HEALTHCARE INC


17-Jul-2013

Completion of Acquisition or Disposition of Assets


Item 2.01 Completion of Acquisition or Disposition of Assets.

As previously reported, on March 7, 2013, our wholly owned subsidiary, Vista Land & Equipment, LLC ("Vista Land"), entered into a Commercial Contract of Sale with RCR Healthcare Dallas, LLC ("RCR Healthcare"). On July 12, 2013, the transactions contemplated by the agreement closed, whereby Vista Land sold our hospital facility in Garland, Texas, formerly known as the Vista Hospital of Dallas (the "Garland facility"), to RCR Healthcare. At closing, Vista Land received a total of $4,830,715.03 for the Garland facility, after deducting for commissions, fees, taxes and certain adjustments. In connection with an insurance claim for casualty losses at the Garland Facility, an additional $100,000 from RCR Healthcare was put into escrow to be held for payment of a deductible. Upon final determination of the claim, Vista Land may be entitled to reimbursement of some of this escrow amount.


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