Cardiff Lexington Corp. (CDIX) Acquires Nova Ortho and Spine, LLC.

June 4, 2021, 1:30 PM GMT+1

FT. LAUDERDALE, FL / ACCESSWIRE / June 4, 2021 / Cardiff Lexington Corporation
(OTC PINK:CDIX) and Nova Ortho and Spine, LLC in Ft. Pierce, FL announced
today that Cardiff Lexington has acquired Nova Ortho and Spine as a
wholly-owned subsidiary of Cardiff Lexington. This acquisition serves as the
initial foundation for Cardiff Lexington's HealthCare Division and is the
cumulation of many months of negotiations by Management and Board of Directors
to acquire the ideal partner as the keystone to build upon in order to
implement the Company's growth strategies within the healthcare sector.

Nova Ortho and Spine, LLC, its management, and employees are committed to the
continued growth and expansion of the Company throughout Florida and
neighboring states. No operational changes are planned, and current ownership
will remain in place under a ten (10) year Management Agreement. The
subsidiary will serve as an acquisition platform to integrate complementary
healthcare service providers in neighboring markets and ancillary service
providers (chiropractic, physical therapy, imaging, etc.) as we meet rapidly
expanding opportunities.

The transaction was a stock purchase that included all assets of Nova Ortho
and Spine, LLC. Sellers received a cash payment in the amount of Two Million
Five Hundred Thousand Dollars ($2,500,000.00) and were issued 894,834 shares
of Series J Preferred Stock of the Company with an aggregate stated value
equal to Three Million Five Hundred Seventy-Nine Thousand Three Hundred and
Thirty-Four Dollars ($3,579,334.00) for a total transaction of six million
seventy-nine thousand and three Hundred and Thirty-Four Dollars
$6,079,334.00). The parties further agreed to performance based contingent
supplement payment to Sellers in 2022 should one year from the closing date
the Company's trailing twelve months minimum Pre-Tax Net Income exceed One
Million Nine Hundred Seventy-Nine Thousand Three Hundred Twenty Dollars
($1,979,320.00), the "Milestone", which in that event would cause the issuance
to Sellers of 818,750 additional shares of Preferred J Stock, with an
aggregate stated value equal to Three Million Two Hundred Seventy-Five
Thousand Dollars ($3,275,000.00). All Preferred J shares issued to Sellers are
subject to a 5-year Lock Up / Leak Out Agreement.

Leonite Capital and an affiliated institutional investor provided a capital
investment into Cardiff Lexington Series N Preferred Stock of Three Million
Four Hundred Seventy-Two Thousand Two Hundred and Twenty-Two Dollars
($3,472,222.00) which facilitated Cardiff Lexington's cash payment portion of
the acquisition to the Sellers.

About Nova Ortho and Spine, LLC

Nova Ortho and Spine, PLLC provides traumatic injury victims with primary care
evaluations, interventional pain management, and specialty consultation
services. The Company is a highly efficient provider of Emergency Medical
Condition assessments. The service model is designed to promote referral
relationships, facilitate patient access, and coordinate administration. As
EMC providers and early stage continued care providers, Nova has superior
access to patient information to determine the validity of each case and
manage cases appropriately.

Nova brings to Cardiff Lexington an experienced management team with 25+
years' experience operating primary, specialty and ancillary care facilities.
They currently operate seven regional offices well positioned in population
centers through Florida. The Company has no dependence on CMS
(Medicare/Medicaid) or health insurance companies (HMOs or Blue Cross) for
reimbursement. Payor mix is almost exclusively comprised of automotive
insurance companies, general liability carriers, and private pay. Management
estimates the seven locations, most of which were opened in the last
twenty-four months, are operating at 35% capacity.

Nova provides primary care evaluation and management as well as specialty care
and interventions (orthopedics, neurosurgery, and pain management) to
approximately 100-150 patients per month at seven office locations. Patients
are primarily referred through a growing network of professional service
providers such as other physicians, physical therapy and chiropractic care
providers. Revenue is primarily provided by bodily injury policies, general
liability policies, and personal injury protection policies, which insulates
the business from the declining reimbursement programs paid from or correlated
to Medicare/ Medicaid and traditional health insurance companies.

"We are very excited to join forces with Dr. Marc Brodsky, MD and his
partners, as together they form the cornerstone as an exceptional team poised
to help lead the growth and expansion of our Healthcare division; we plan to
acquire several other strategic medical surgery pain management practices
throughout Florida and other southeastern states over the next 6 to 18
months," stated Alex H. Cunningham, Cardiff Lexington CEO. We greatly
appreciate Leonite Capital's management's ongoing support and the contribution
by their affiliated institutional investor. " Dr. Marc Brodsky of Nova
responded: "We believe Cardiff Lexington is uniquely suited to accelerate and
expand our growth strategies providing a unique and compelling platform for
strategic alliances. We are very impressed by the current management team,
their vision, and the specific additions within the healthcare segment that
Alex and his team are working to bringing on board. At Nova Ortho and Spine we
expect sustained 30% growth internally, complemented by synergies and new
opportunities derived from future complementary acquisitions within Cardiff
Lexington's Healthcare Division.

Cardiff Lexington's acquisition strategy is driven by structure, transaction
value, alignment, resources and return on investment. Management targets
acquisition of middle market private niche healthcare and financial services
companies with high growth potential. The Cardiff Lexington umbrella enables
business owners to exit personal equity and to take advantage of the
capitalization power of a public company to drive growth and expansion.
Fundamental to the Cardiff Lexington strategy, acquisitions become standalone
subsidiaries gaining advantage of the power of a public company. Owners gain
liquidity, diversification, pooled resources, leverage value, and mitigated
risk. As a Cardiff Lexington subsidiary these companies gain seasoned
management support and the enhanced ability to raise money for operations or
expansion while also establishing a longer-term equity exit strategy.

For Investors, Cardiff Lexington seeks to aggressively grow and hold assets
creating a diversified lower risk environment that over the long term protects
and enhances investment through a diversified continually growing niche
holding company.

About Cardiff Lexington Corporation: Cardiff Lexington employs a "Buy and
Build" acquisition and value creation strategy targeting acquisition of middle
market private niche financial services and healthcare companies and real
estate with synergies leveraging data and resources across similar target
markets. The Company is a diversified healthcare and financial services
holding company historically focusing on tax, debt, and real estate sectors.
The Company is implementing their buy and build strategy leveraging proven
management in private companies that become subsidiaries. Cardiff Lexington
targets acquisitions of mature, high-growth, niche companies. Cardiff
Lexington's strategy identifies and empowers select income-producing middle
market private businesses and commercial real estate properties. Cardiff
Lexington provides these companies both 1) the enhanced ability to raise money
for operations or expansion, 2) an equity exit and liquidity strategy for the
owner, heirs, and/or Investors, and 3) a proven experienced Cardiff Lexington
management team to facilitate and lead growth and expansion.

Cardiff Lexington is led by strong and talented team of executives and
advisors providing expert acquisition, market guidance, and added management
value for subsidiaries and investors. For investors, Cardiff Lexington
provides a diversified lower risk portfolio to protect and safely enhance
their investment by continually adding assets and holdings.

FORWARD-LOOKING STATEMENT: This news release contains forward-looking
statements within the meaning of the Securities Litigation Reform Act. The
statements reflect the Company's current views with respect to future events
that involve risks and uncertainties. These risks include the failure to meet
schedule or performance requirements of the Company's contracts, the Company's
liquidity position, the Company's ability to obtain new contracts, the
emergence of competitors with greater financial resources, and the impact of
competitive pricing. In the light of these uncertainties the forward-looking
events referred to in this release might not occur.

Investors Relations
888-507-CDIX (2349) ext. 705

SOURCE: Cardiff Lexington Corporation

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