Futuremed Healthcare Income Fund

Futuremed Healthcare Income Fund

March 26, 2007 13:17 ET

Futuremed Healthcare Income Fund Wins New Contract

CONCORD, ONTARIO--(CCNMatthews - March 26, 2007) - Futuremed Healthcare Income Fund ("Futuremed" or the "Fund")(TSX:FMD.UN) announced today that it has been awarded a new three-year contract by Chartwell Seniors Housing REIT for the supply of consumable nursing supplies and incontinence products. The new award, while a renewal of a contract about to expire, does include new Long Term Care, and Retirement Home Beds, that were not covered under the old contract. The new contract also includes an option to extend the agreement for an additional two years.

"We are very pleased to be continuing our strong relationship with Chartwell, one of Canada's premier operators of seniors housing and long-term healthcare facilities," commented Raymond Stone, Futuremed's Chief Executive Officer. "Securing this very competitive, and enhanced, contract strengthens our ability to deliver stable and sustainable cash distributions to our Unit Holders over the long term."

Futuremed Healthcare Income Fund, through its operating entities, is Canada's leading value-added distributor of consumable nursing home supplies and specialized furniture and equipment to the growing long-term care facilities sector. Futuremed's Trust Units trade on the Toronto Stock Exchange under the symbol FMD.UN. More information can be found at www.futuremed.ca.

Certain statements contained in this news release may include forward-looking information. Such statements are based on current expectations, are subject to a number of risks and uncertainties, and actual results may differ materially from those contained in such statements. More information about these risks and uncertainties can be found in regulatory filings available at www.sedar.com.

Contact Information

  • Futuremed Healthcare Income Fund
    Daniel Sacks
    Vice President, Finance
    (905) 761-0068, ext. 2222
    Toll-free investor relations: 1-800-387-7025
    Website: www.futuremedfund.com