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The directors of Diversicare Healthcare Services have voted to accept a roughly $70 million acquisition proposal from an entity controlled by a veteran health care entrepreneur based in New York.

Per the agreement signed Thursday, investors in Brentwood-based Diversicare will receive $10.10 per share in cash from DAC Acquisition, which is more than three times the stock’s price the day before DAC announced its interest last week. DAC is led by Ephram Lahasky, whose portfolio includes ambulance and other medical transportation services as well as interests in more than 100 skilled nursing and other care centers in more than 20 states.

“After due consideration, the board of directors concluded that this transaction was clearly in the best interests of our stockholders,” said Diversicare Chairman Chad McCurdy. “The board and I highly value our management team and appreciate their diligent focus through the pandemic. Their efforts to reposition our company the past few years have led us to this opportunity.”

Diversicare, which runs a portfolio of about 7,250 skilled nursing beds, last year posted a net profit of $6.5 million in revenues of $476 million. Those numbers were up from a loss of more than $27 million on similar sales the year before and combined losses of about $14 million from 2016 through 2018.

“I have closely followed Diversicare’s corporate progress from the perspective of a stockholder and as an operator,” Lahasky said Friday. “The possibilities available to our existing portfolio and Diversicare’s portfolio by this combination are very encouraging.”

DAC’s purchase is expected to close in the fourth quarter. Diversicare has negotiated the option to solicit and evaluate other offers through late September. Should its board call off the deal in favor of another, it will need to pay DAC $2.1 million. If Lahasky and his team call things off, they will be required to pay Diversicare $4.2 million.

Shares of Diversicare (Ticker: DVCR) were up more than 38 percent to $9.69 in midday trading Friday. That’s their highest point since late 2017.