Prism Medical Ltd.

Prism Medical Ltd.

June 01, 2016 16:35 ET

Prism Medical Ltd. Announces the Completion of the Acquisition of the Lifts and Elevating Business from Shoppers Home Health Care

TORONTO, ONTARIO--(Marketwired - June 1, 2016) - Prism Medical Ltd. ("Prism" or the "Company"), (TSX VENTURE:PM), a leading provider of durable medical equipment and related services to the mobility challenged, today announced that it has completed the previously announced acquisition by the Company of certain assets of the institutional and residential moving, handling and accessibility businesses of Shoppers Home Health Care in the provinces of Ontario, Saskatchewan and Alberta.

The purchased assets consist of agreed inventory, equipment, customer contracts and goodwill of the acquired businesses. In addition, Prism agreed to hire certain employees, lease vehicles required by such employees and assume and perform certain contracts including customer contracts and a lease of premises located in Regina, Saskatchewan.

"This transaction will allow us to focus Prism's core business activities and will further Prism's position as the leading Canadian manufacturer and distributer of moving and handling devices," said Ross Scavuzzo, CEO of Prism. "We look forward to continuing to deliver the outstanding level of customer services Shoppers Home Health Care has provided to a broad base of acute care and long term care facilities."

About Prism Medical Ltd.

Prism is a vertically integrated manufacturer and leading provider of equipment and services used to move and handle mobility challenged individuals in a safe and dignified manner. Prism's products are marketed under the brand names of Prism Medical, ErgoSafe, Waverly Glen and Nightingale in the homecare, acute care and long-term care markets throughout North America. The Company offers solutions that encourage improved care, quality of life and mobility, while seeking to lower the overall cost of the care giving function in a number of ways, including reducing the incidence of handling-related injuries among caregivers. In addition, the Company through its network of Nightingale dealers provides an integrated suite of products and services that make home care a viable option for many people. For further information visit Prism's website at or

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Source: Prism Medical Ltd.

Forward looking statements

This announcement may contain "forward-looking statements" within the meaning of applicable securities laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Prism to be materially different from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

Contact Information