Logibec Groupe Informatique Ltd.
TSX : LGI

Logibec Groupe Informatique Ltd.

March 16, 2007 09:52 ET

Logibec Closes its Transaction with Choice Systems

MONTREAL, QUEBEC--(CCNMatthews - March 16, 2007) - Logibec Groupe Informatique Ltd. (TSX:LGI) announced today that it has closed the acquisition of the business activities of Choice Systems, namely its developed technology and customer base. Choice Systems develops and markets therapy management software for the sub-acute care sector in the United States. Its customers include long-term care facilities as well as therapy and rehabilitation agencies. The Choice Systems software, known as RNet, is currently used in over 700 healthcare facilities throughout the United States, 6% of which are MDI customers. The acquired assets, which were financed through the Company's cash and its credit facilities, should contribute $0.2 million and $0.4 million respectively to the Company's recurring revenue during the fiscal years 2007 and 2008.

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. Since completing its acquisition of MDI Technologies, Inc. ("MDI"), in June 2005, and Monette Information Systems Corporation ("Monette"), in March 2006, Logibec also serves over 750 clients representing approximately 1,800 facilities throughout the United States. Logibec's services are delivered by an experienced team of approximately 250 employees as at September 30, 2006. The Company has its head office in Montreal as well as offices in Quebec City, Edmonton, Alberta, St. Louis, Missouri, and Smithfield, Virginia.

The TSX Venture accepts no responsibility for the truth or accuracy of this press release.

Contact Information

  • Logibec Groupe Informatique Ltd.
    Claude Roy
    President and Chief Executive Officer
    514-766-0134
    514-766-9237 (FAX)
    www.logibec.com
    or
    Logibec Groupe Informatique Ltd.
    Marc P. Brunet
    Chief Financial Officer
    514-762-3833