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Rehabilitation company reaches settlement
A local physical rehabilitation company has agreed to pay a former investment advisor nearly $1.1 million as part of a settlement.
Agility Health, LLC said this week it will pay FPGC LLC $1,089,928.10 to settle litigation the capital investment firm had pursued against the health network.
FPCG had claimed a commission was owed to it by Agility Health.
As part of the settlement, the Canadian dollar equivalent of $914,928.10 will be released from an escrow account established by Agility Health CEO Steve Davidson and President Kenneth Scholten. Agility will pay the remaining $175,000 over a 20-month period, with interest accruing at 10 percent per annum.
Agility Health, LLC is the primary operating subsidiary of Agility Health, Inc.
Agility Health operates a network of outpatient rehab clinics and contracts with hospitals, nursing homes and other clients.
The company provides treatment for orthopedic disorders, sports-related injuries, preventive care and other injuries and conditions.
As of the first of the year, Grand Rapids-based Agility Health operated 84 outpatient or on-site rehab locations across 14 states. It also provides rehab services to 26 hospitals and inpatient units and 37 nursing homes and other long-term care facilities across 11 states.