Republic Health agreed to a leveraged buy-out.

The Dallas-based health-care services company and Reph Acquisition reported that they have entered into a definitive agreement providing for the acquisition of Republic. Reph is a corporation formed on behalf of certain officers and directors of Republic, and Republic will become a wholly owned subsidiary of Reph. The agreement has been approved by Republic’s board. Holders of Republic common stock and Series C preferred stock will receive $19.25 a share in cash. Holders of Series A preferred stock, each share of which is convertible into three shares of common stock, will receive $57.75 a share in cash.