ARCpoint to sell 68% ownership stake in non core asset

ARCpoint ( TSXV: ARC:CA ) said on Monday that it has entered into an agreement for the sale of its 68% share ownership interest in Achieve Behavioral Health Greenville for total consideration of US$480,000. From the total consideration amount, the buyer of ARCpoint’s interest in Achieve will deduct US$120,000 in recognition of net amounts owing between the two parties and make a total cash payment of US$360,000 to ARCpoint. Achieve is a South Carolina company that operates under the brand name Vertical Treatment Centers and provides drug and alcohol addiction treatment services.

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