Nu-Med agreed to buy Community Care Systems.
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The Encino-based company said it will pay $8 million in cash, 350,000 shares of Nu-Med common stock to be delivered at the closing and up to an additional 350,000 shares contingent upon satisfaction of certain earnings requirements during fiscal 1989 and 1990 for Boston-based Community Care Systems. Community Care is a privately held company that owns and operates psychiatric hospitals and counseling centers located primarily in the Northeastern United States.
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