Logibec Groupe Informatique Ltd.
TSX : LGI

Logibec Groupe Informatique Ltd.

December 21, 2007 13:14 ET

Logibec Acquires QuickCare in the United States

MONTREAL, QUEBEC--(Marketwire - Dec. 21, 2007) - Logibec Groupe Informatique Ltd. (TSX:LGI) (the "Company") announced that its recently renamed subsidiary, MDI Achieve, Inc., has signed an agreement to purchase the business activities and assets of QuickCare Software Services, L.P. and QuickCare, Inc. ("QuickCARE"). The transaction is expected to close on January 3, 2008. QuickCARE develops, markets and supports clinical and administrative software designed specifically for the elder care market in the United States.

Founded in 1992 and based in Dallas, QuickCARE serves over 1,600 facilities. As a result of this transaction, Logibec serves approximately 7,500 facilities in the United States.

The purchase price is set at US$22.5 million of which US$20.25 million will be paid at closing. The balance of purchase price of US$2.25 million is payable on March 31, 2009.

QuickCARE's current contractual agreements should contribute approximately US$8.5 million to the Company's recurring revenue on an annualized basis. The acquired business activities will be accretive to the Company's earnings as of the closing of the transaction.

ABOUT LOGIBEC

Logibec is among the ten largest Canadian companies specializing in the development, marketing, implementation and support of information systems for the health and social services sector. Logibec serves over 200 clients throughout Quebec and the rest of Canada. Through its wholly-owned subsidiary MDI Achieve, Inc., Logibec also serves approximately 6,000 senior living communities and long-term care facilities throughout the United States. These services are delivered by an experienced team of some 390 employees. The Company has its head office in Montreal as well as offices in Quebec City, Edmonton, Smithfield, Tampa, St. Louis and Minneapolis.

Contact Information

  • Logibec Groupe Informatique Ltd.
    Claude Roy
    President and Chief Executive Officer
    514-766-0134
    or
    Logibec Groupe Informatique Ltd.
    Marc P. Brunet
    Chief Financial Officer
    514-762-3833