Logibec Groupe Informatique Ltd.
TSX : LGI

Logibec Groupe Informatique Ltd.

March 23, 2006 10:08 ET

Logibec Groupe Informatique Ltd.: Acquisition of Monette Information Systems

MONTREAL, QUEBEC--(CCNMatthews - March 23, 2006) - Logibec Groupe Informatique Ltd. (TSX:LGI) announces the acquisition, by its wholly-owned subsidiary MDI Technologies, Inc. ("MDI"), of all the outstanding shares of Monette Information Systems Corporation ("Monette") for cash consideration of US$2.5 million.

Monette, located in Smithfield, Virginia, develops and sells the ULTRACare software package to the long-term care sector in the United States, the same market segment that MDI addresses. Monette's clients currently represent over 300 healthcare facilities, primarily located in the Southeastern region of the United States, namely North Carolina and Virginia, as well as in Pennsylvania.

This acquisition strengthens MDI's presence and sales effort in a region with attractive potential for growth and broadens the product suite that can be offered to the Monette client base. Management of Logibec believes that the acquired operations will be accretive to MDI's earnings in the current fiscal year.

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. Over 400 healthcare facilities in Canada and over 650 clients representing 1,500 facilities throughout the U.S. use our products and services delivered by an experienced team of some 240 employees as at December 31, 2005. The Company has its head office in Montreal as well as offices in Quebec City, Edmonton and St. Louis, Missouri.

The TSX 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
    claude_roy@logibec.com
    or
    Logibec Groupe Informatique Ltd.
    Marc P. Brunet
    Chief Financial Officer
    (514) 762-3833
    marc_brunet@logibec.com