MediSolution Ltd.

MediSolution Ltd.

March 23, 2006 18:23 ET

MediSolution Announces Preliminary Results of Issuer Bid

MONTREAL, QUEBEC--(CCNMatthews - March 23, 2006) - MediSolution Ltd. (TSX:MSH), a leading Canadian healthcare information technology company, today announced that, based on initial reports, approximately 2.4 million common shares were deposited and will be taken up under its issuer bid dated February 8, 2006 at a purchase price of $0.34 per share. This offer expired at 5:00 p.m. (Montreal time) on March 23, 2006.

After giving effect to the common shares repurchased under this offer, there will remain outstanding approximately 157.3 million common shares of the Company. A loan in the amount of approximately $0.8 million will be drawn from the facility provided by MediSolution's principal shareholder, Brookfield Asset Management Inc., to fund the issuer bid.

In accordance with the terms of the issuer bid, and for purposes of subsection 191(4) of the Income Tax Act (Canada), the "specified amount" in respect of each MediSolution common share has been specified as $0.34.

About MediSolution

MediSolution (TSX:MSH) is a leading healthcare and public sector information technology company, providing software, solutions and services to customers across North America. More than 500 hospitals and other healthcare facilities and close to 200 public sector or related organizations rely on MediSolution's systems to maximize their operational efficiencies, lower their costs, and improve the delivery of services.

Contact Information

  • MediSolution Ltd.
    Paul Roche
    Senior Vice President and Chief Financial Officer
    (514) 850-5040