PUBLIC NOTICE OF ASSIGNEE SALE: Armor Health Management, LLC

PUBLIC NOTICE OF ASSIGNEE SALE: ASSETS OF ARMOR HEALTH MANAGEMENT, LLC

Overview:

Armor Health Management, LLC (“Armor” or the “Assignor”), a Florida LLC with operations based in Miami, entered into an Assignment for the Benefit of Creditors on October 11, 2023, in favor of Daniel J. Stermer. The Assignee will now conduct a sale of substantially all of Armor’s assets, including, but not limited to, the Assignor’s right, title, and interest in, and to, current revenue-producing contracts, vendor accounts, equipment, and general intangibles (collectively, the “Assets”), through a sale process that solicits bids for a sale auction.

The Assignor is engaged in the business of providing correctional health management and related services to patients in correctional or related facilities. Specifically, the Assignor’s primary asset is a Health Services Agreement for the Nueces County Correctional Facilities in the State of Texas. Armor also provides non-medical administrative and back-office services to other special purpose entities that are affiliates of the Assignor which provide similar healthcare related services at other correctional facilities around the country.

Assets to be Sold:

The Assignee has received and entered into a Stalking Horse Asset Purchase Agreement (“Stalking Horse Bid”) with a prospective buyer for substantially all of the Assignor’s assets relating to Armor’s operating business, including the Nueces Contract, subject to a sale process that includes the solicitation of higher and/or better bids for the Acquired Assets. The Assets will be sold free and clear of all liens, claims, encumbrances and interests, pursuant to the terms of the Stalking Horse Bid. The prospective buyer has also agreed to assume select liabilities of the Assignor.

The Assets are to be sold “as is where is” and will not be sold separately. The Assignee shall only consider qualified bids to purchase all or substantially all of the Assets and select assumed liabilities on terms which, in the business judgment of Seller, are no less favorable than the Stalking Horse Bid and are for a cash purchase price which is at or above the required minimum overbid of $625,000.00.

All interested parties wishing to make competitive offers for the Assets will need to submit a qualified bid to the Assignee no later than 5:00 pm (prevailing Eastern time) on December 1, 2023, and contain the following: (i) information confirming that the qualified bidder (“bidder”) has the financial capacity to consummate a transaction if selected as the successful bidder (“Successful Bidder”), (ii) ability to expeditiously consummate the transaction if selected as the Successful Bidder, (iii) a signed Mutual Confidentiality and Non-Disclosure Agreement, and; (iv) a signed asset purchase agreement in the form substantially the same as the stalking horse. The Stalking Horse Asset Purchase Agreement is available for review by contacting the Assignee or his legal counsel. Interested parties may receive further information upon qualification and signing a confidentiality agreement.

Bid Deadline and Submission: Bids must be received no later than 5:00 pm (prevailing Eastern time) on December 1, 2023.

All inquiries should be directed to:

Assignee for the Benefit of Creditors
Daniel J. Stermer
T: 305-374-2717
E: [email protected]

-or-

Counsel to the Assignee
Paul J. Battista, Esq.
Venable LLP
T: 305-372-2457
E: [email protected]

Alison Day, Esq.
Venable LLP
T: 305-372-2453
E: [email protected]