Olshan Closes Digirad’s Acquisition of Project Rendezvous Holding Corporation and Related Financing

Olshan client Digirad Corporation (NASDAQ: DRAD) announced the completion of its acquisition of Project Rendezvous Holding Corporation for $36 million in cash, subject to certain adjustments, from Los Angeles based Platinum Equity. Project Rendezvous Holding Corporation is the ultimate parent of DMS Health Technologies, Inc., a provider of mobile diagnostic imaging and related sales and services to small and regional hospitals throughout the United States, with a large concentration in the upper Midwest region.  Digirad also announced the closing of a five-year credit facility with Wells Fargo Bank that provides for a maximum credit amount of $40,000,000.  Digirad used financing available under the Wells Fargo credit facility to help fund the acquisition of Project Rendezvous Holding Corporation.  Olshan attorneys representing Digirad on this transaction included Jason Saltsberg and Honghui Yu from the Corporate group; Andrew Lustigman from Advertising; Hyman Kindler from Real Estate and Jeremy King from Insurance.