Addus Healthcare sued by Down East Health Care
Kelly Holleran Sep. 21, 2009, 9:50am
Two Missouri individuals say a healthcare company owes them more than $600,000 after it agreed to purchase the assets of their business.
Jerome and Cathy Ramey filed a lawsuit Sept. 11 in Madison County Circuit Court against Addus Healthcare, Inc.
The Rameys say they owned Down East Health Care prior to its voluntary dissolution.
On June 9, 2008, the Rameys entered into an asset purchase agreement with Addus in which Addus agreed to buy certain assets from the Rameys' Down East Health Care business, according to the complaint.
"As part of the Agreement, Defendant agreed to pay a purchase price in the aggregate amount of $1,625,000 for the assets of Down East," the suit states.
However, Addus has not paid $125,000 for a deferred payment or $500,000 for earned consideration, both of which should have been paid under the terms of the agreement, the complaint says.
In addition to the money they say they are owed, the Rameys are seeking pre- and post-judgment interest and other relief the court deems appropriate.
David A. Weder of Lewis, Rice and Fingersh in St. Louis will be representing them.
Madison County Circuit Court case number: 09-L-973.