ACQUISITION EXPANDS CALIAN’S HEALTHCARE PRESENCE
(All amounts in this release are in Canadian Dollars)
Ottawa, Ontario Mar 01, 2012 - Calian Technologies Ltd. (TSX:CTY) is pleased to announce today that it has acquired Primacy Management Inc. of Burlington, Ontario. Since 2003, Primacy has been working with Loblaw Companies Limited on an exclusive basis to design, build and manage all in-store health clinics in support of Loblaws' health and wellness initiatives. Primacy currently operates 112 such clinics in Loblaws stores across Canada.
"With revenues of approximately $3 million, we expect this acquisition to be EBITDA accretive from day one," stated Jacqueline Gauthier, Chief Financial Officer. “Primacy results will be consolidated and reported as part of the Company’s Business and Technology Services (BTS) division”.
"We are excited about the opportunity to work with a world class organization such as Loblaws. This is a critical next step in Calian's health strategy which encompasses a civilian healthcare footprint to augment our military offerings, strengthening our National medical practitioner network and expanding our health service offerings to our clients,” stated Kevin Ford, President of Calian’s BTS division.
"Calian’s long standing reputation for quality delivery coupled with the financial resources to take on new initiatives, will certainly further our medical clinic program”, stated John Boag, President of Primacy. “We see tremendous synergies between the companies to develop and deliver innovative health programs at Primacy clinics that will benefit our patients and Loblaws customers".
"Primacy opened its first clinic for Loblaws almost 10 years ago and has been an excellent partner ever since. Primacy has been key in establishing and building our medical clinic business" stated Bobbi Reinholdt, senior vice-president pharmacy, Loblaw Companies Limited.. "We are excited to have Calian as part of that team as we evolve our healthy lifestyle offerings to our customers into the future".
About Primacy: http://www.primacy.ca
Primacy is one of the largest Medical Clinic management companies in Canada. Primacy has established over 112 clinic locations at Loblaw Store locations across Canada. Over 450 physicians now utilize these sites as their main practice locations to provide primary health care services to over 3.5 Million patients per annum.