Logibec Groupe Informatique Ltd.
TSX : LGI

Logibec Groupe Informatique Ltd.

January 08, 2008 13:49 ET

Logibec Closes its Transaction With QuickCARE

MONTREAL, QUEBEC--(Marketwire - Jan. 8, 2008) - Logibec Groupe Informatique Ltd. (TSX:LGI) (the "Company") announced that its recently renamed subsidiary, MDI Achieve, Inc., has closed the recently announced acquisition of the business activities and assets of QuickCare Software Services, L.P. and QuickCare, Inc. (collectively "QuickCARE"). 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 Frisco, Texas, QuickCARE serves over 1,600 facilities. As a result of this transaction, Logibec now serves approximately 7,500 facilities in the United States.

The Company paid US$21.5 million for the acquisition of QuickCARE of which US$19.35 million was paid at the closing using its current credit facilities. The balance of purchase price of US$2.15 million will be paid on March 31, 2009.

The Company believes that QuickCARE's current contractual agreements will contribute approximately US$8.0 million to its recurring revenue on an annualized basis. The acquisition of QuickCARE is immediately accretive to the Company's earnings.

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 7,500 senior living communities and long-term care facilities throughout the United States. These services are delivered by an experienced team of some 450 employees. The Company has its head office in Montreal as well as offices in Quebec City, Edmonton, Smithfield, Tampa, St. Louis, Minneapolis and Frisco.

Contact Information

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