AGREEMENT FOR PURCHASE AND SALE OF ASSETSAgreement for Purchase and Sale of Assets • November 24th, 2009 • Modern Medical Modalities Corp • Services-misc health & allied services, nec • New Jersey
This Agreement for Purchase and Sale of Assets (“Agreement”) is made as of November___, 2009 by and among Medical Equipment Solutions, Inc. (“Seller”), a Georgia corporation with a principal address of 19347 King Palm Court, Boca Raton, Florida, 33498, and Modern Medical Modalities Corporation (“Buyer”), a publicly traded New Jersey corporation with a principal business address of 439 Chestnut Street, Union, New Jersey, with reference to the following:
ASSET PURCHASE AGREEMENTAsset Purchase Agreement • November 24th, 2009 • Modern Medical Modalities Corp • Services-misc health & allied services, nec • New Jersey
This ASSET PURCHASE AGREEMENT (the “Agreement”), is entered into as of November 19, 2009, by and among NEW JERSEY IMAGING PARTNERS, INC., a New Jersey corporation (“Purchaser”), RADNET, INC., a Delaware corporation and affiliate of Purchaser (“RadNet”), MODERN MEDICAL MODALITIES CORPORATION, a New Jersey corporation (“Parent”), UNION IMAGING ASSOCIATES, INC., a New Jersey corporation and wholly-owned subsidiary of Parent (“UIA”), UNION IMAGING CENTER, LLC, a New Jersey limited liability company and wholly-owned subsidiary of Parent (“UIC”), and PET SCAN AT UNION IMAGING, LLC, a New Jersey limited liability company and wholly-owned subsidiary of Parent (“PET” and together with UIA and UIC, individually a “Seller Company” and collectively, “Seller Companies”). Terms used herein and not otherwise defined shall have the meanings set forth in Section 10 hereof.
