Specialists on Call raises $23 million, undergoes change in control
Clients Specialists on Call, Inc.
Jones Day represented Specialists on Call, Inc., a provider of specialty physician care delivered via telemedicine, in connection with a $23 million series of equity transactions that resulted in a change in control of the company. The company issued senior preferred stock in two closings, with the lead investor, Warburg Pincus, taking a majority position in the company. Related transactions involved a rights offering and execution of a tender offer by the company to repurchase shares from its legacy investors. Jones Day also advised on governance issues, including restructuring the company's board of directors and amending the equity compensation of resigning directors.