Under the terms of the definitive merger agreement, CEFC will acquire all of the outstanding shares of CTDN
's common stock for cash and CEFC common stock in a transaction valued at approximately USD 14.03m, or USD 36.07 per share, based on a CEFC stock price of USD 9.75 per share.
"With CTDN, we are excited about bringing the same streamlined operations to Northern California that ultimately benefit the donor families, hospitals, funeral homes, and tissue recipients we are here to serve," Cole said.
"We look forward to a productive partnership with TBI," added Cindy Siljestrom, CTDN Chief Executive Officer.
CTDN shareholders will have the option of electing consideration in cash or CEFC common stock, subject to 50% of the CTDN common shares being exchanged for cash.
Timothy Gaylord, president, CEO and director of CTDN and Mason State Bank, will join the CEFC and Commercial Bank boards upon completion of the transaction.
It is anticipated to close in 4Q16 subject to receipt of regulatory approval and satisfaction of other customary closing conditions, including approval of CTDN's shareholders.
It also reported that the United Network for Organ Sharing (UNOS) has reprimanded CTDN
for failing to follow its donation after cardiac death protocols.
Levin is survived by his wife Phyllis Weber, executive director of CTDN
, four children, and one grandchild.
Lisa Barnes, a Fresno-based CTDN coordinator, was returning home in the early morning from San Luis Obispo following the recovery of a donor when the plane went down.
For more information contact Von Roebuck, CTDN public relations - (888) 570-9400, (415) 837-5888 or by e-mail: firstname.lastname@example.org
Because of the size of the population-2 million-patients in Nevada needing an extra renal transplant like a liver or heart, are usually transplanted either in Reno, which is served by the California Transplant Donor Network (CTDN
) in San Francisco which or UCLA Medical Center, which is served by the Southern California Organ Procurement Center.