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Tuesday, January 11, 2011

ExamWorks to buy private peer for $200 mln, (NYSE: EXAM)

Independent medical examinations provider ExamWorks Group Inc (EXAM.N) said it planned to buy privately held peer MES Group Inc for about $200 million in cash and stock. ExamWorks said the price consists of $175 million in cash and about $25 million in ExamWorks stock. ExamWorks will also assume up to $10 million in debt. Atlanta-based ExamWorks, which plans to finance the cash portion of the deal with cash on hand and its senior revolving credit facility, expects the deal to close in the first quarter of 2011.