Savaria Corporation
TSX : SIS

Savaria Corporation

October 01, 2015 11:53 ET

Savaria Acquires Two Silver Cross Stores

LAVAL, QUEBEC--(Marketwired - Oct. 1, 2015) - Savaria Corporation ("Savaria") (TSX:SIS), one of the North America's leaders in the accessibility industry, announces the asset purchases of two Silver Cross franchise locations, in St. Catharines and Toronto, Ontario.

"As a follow up to its purchase of Silver Cross Ottawa last month, Savaria is pleased to continue on its path to own corporate stores in key Canadian markets. Ontario is home to almost 5 million seniors, many of whom will need our products in the coming years in order to maintain mobility in the home. We want to be their go-to source and we will work hard for their business and loyalty", said Marcel Bourassa, President & CEO Savaria Corporation.

Silver Cross Toronto East services the east side of Toronto including Scarborough and Markham. The St. Catharines location services the Niagara region including Welland and Niagara Falls. Both locations will sell stairlifts, wheelchair lifts, home elevators, wheelchair accessible vans and other home healthcare products.

About Silver Cross

Silver Cross operates 15 franchise stores in Canada and the US, with 4 corporate locations in Ontario. Savaria Corporation purchased the assets of the franchisor in September 2014. Founded in 1993, Silver Cross has served thousands of clients and the healthcare community. Stores offer professional sales, installation and service of home medical equipment, as well as rental programs and recycled equipment. www.silvercross.com

About Savaria

Savaria Corporation is one of the North America's leaders in the accessibility industry focused on meeting the needs of people with mobility challenges. Savaria designs, manufactures, distributes and installs primarily elevators for home and commercial use, as well as stairlifts and vertical and inclined platform lifts. With the acquisition of Silver Cross, the Corporation now operates a lead generation program to capture and distribute leads on potential customers to close to 100 affiliates in North America; also, it is a franchisor of stores through which new and recycled accessibility equipment is sold. In addition, Savaria converts and adapts minivans to be wheelchair accessible. The diversity of its product line, one of the world's most comprehensive, enables the Corporation to stand out by proposing an integrated and customized solution for its customers' mobility needs. Its operations in China have substantially grown and the collaboration with Savaria's other Canadian facilities increases its competitive edge in the market place. The Corporation records more than 60% of its revenue outside Canada, primarily in the United States. It operates a sales network of some 400 active retailers and affiliates in North America and employs some 430 people at its head office in Laval and at its plants and sales offices in Montreal (Quebec), Brampton and London (Ontario), Calgary (Alberta) and Huizhou (China).

www.savaria.com

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