Prism Medical Ltd.

Prism Medical Ltd.

October 27, 2015 17:00 ET

Prism Medical Reports CEO Medical Leave of Absence

TORONTO, ONTARIO--(Marketwired - Oct. 27, 2015) - Prism Medical Ltd., ("Prism Medical" or "the Company") (TSX VENTURE:PM), announced today that Andrew McIntyre, its CEO and Executive Chairman has recently been diagnosed with non-Hodgkin lymphoma cancer. He is undergoing chemotherapy and will be taking a medical leave of absence for treatment which is anticipated to last six months. The Board of Directors named John C. Charles, its Vice Chairman, as Interim CEO during Mr. McIntyre's absence. Mr. McIntyre will remain as Executive Chairman and as a member of the Board.

"Speaking on behalf of the entire Board, we wish Andy the very best, a speedy recovery and look forward to his return" said John C. Charles. "Andy is an exceptional leader and among his many accomplishments he developed a clear strategic plan, strong product line and a very talented management team, both in Canada and the US, who will continue to implement the Company's business objectives."

"It is in Prism's best interests, and mine, that I focus on my health during my leave of absence" Mr. McIntyre said. "While my illness is serious, I have been advised by my doctors that it is curable and I hope for a full recovery. I am feeling better now that treatment has commenced and will make myself available as required and as my health permits. I am looking forward to actively re-engaging in the business once I have recovered".

Mr. Charles has served as Vice Chairman of Prism and as a Director since 1997. He is a member of the Audit Committee and has been a Lead Director and Chair of the Governance Committee and has extensive knowledge of the Company's business. Mr. Charles has also been a Director of several private companies and public issuers where he served as a member of a number of different board committees. Mr. Charles is a member of the Canadian and Ontario Institutes of Chartered Accountants. He holds a BA in Mathematics and Statistics from Queen's University.

About Prism Medical Ltd.

Prism Medical 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 Medical'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 caregiving 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 Medical's website at or

Forward-looking Information

This document contains forward-looking statements relating to our operations and to the environment in which we operate and our strategy, action plans and investments, which may involve estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and/or are beyond our control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. These factors include those set forth in this report and our other public filings. Consequently, readers should not place any undue reliance on such forward-looking statements. These forward-looking statements are made as of the date of this report. Prism Medical is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors. All forward-looking statements attributable to Prism Medical are expressly qualified by these cautionary statements.

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

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