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Acquisition Expands Calian's Healthcare Presence(All amounts in this release are in Canadian Dollars) (March 01, 2012)
OTTAWA, ONTARIO -- (Marketwire) -- 03/01/12 -- Calian Technologies Ltd. (TSX:CTY) is pleased to announce today that it has acquired Primacy Management Inc. of Burlington, Ontario. Since 2003, Primacy has been working with Loblaw Companies Limited on an exclusive basis to design, build and manage all in-store health clinics in support of Loblaws' health and wellness initiatives. Primacy currently operates 112 such clinics in Loblaws stores across Canada.
"With revenues of approximately $3 million, we expect this acquisition to be EBITDA accretive from day one," stated Jacqueline Gauthier, Chief Financial Officer. "Primacy results will be consolidated and reported as part of the Company's Business and Technology Services (BTS) division".
"We are excited about the opportunity to work with a world class organization such as Loblaws. This is a critical next step in Calian's health strategy which encompasses a civilian healthcare footprint to augment our military offerings, strengthening our National medical practitioner network and expanding our health service offerings to our clients," stated Kevin Ford, President of Calian's BTS division.
"Calian's long standing reputation for quality delivery coupled with the financial resources to take on new initiatives, will certainly further our medical clinic program", stated John Boag, President of Primacy. "We see tremendous synergies between the companies to develop and deliver innovative health programs at Primacy clinics that will benefit our patients and Loblaws customers".
"Primacy opened its first clinic for Loblaws almost 10 years ago and has been an excellent partner ever since. Primacy has been key in establishing and building our medical clinic business" stated Bobbi Reinholdt, senior vice-president pharmacy, Loblaw Companies Limited.. "We are excited to have Calian as part of that team as we evolve our healthy lifestyle offerings to our customers into the future".
Calian employs over 2300 people with offices and projects that span Canada, U.S. and international markets. The company's capabilities include the provision of business and technology services to industry and government in the health, operations and maintenance, IT services and training domains as well as the design, manufacturing and maintenance of complex systems to the communications and defence sectors. Our goal is to be the best company to work for, buy from and invest in.
The Business and Technology Services (BTS) Division is headquartered in Ottawa. This division augments customer workforces with flexible short and long-term placements of individuals and teams, provides access to critical recruiting capabilities and delivers outsourcing services for a variety of technical and professional functions. Our strength lies in understanding clients' needs, recruiting highly qualified personnel who understand and meet those needs, and then effectively managing those personnel within our customers' framework. Calian's Systems Engineering Division (SED) plans, designs and implements complex communication systems for many of the world's space agencies and leading satellite manufacturers and operators. SED also provides contract manufacturing services for both private sector and military customers in North America.
Primacy is one of the largest Medical Clinic management companies in Canada. Primacy has established over 112 clinic locations at Loblaw Store locations across Canada. Over 450 physicians now utilize these sites as their main practice locations to provide primary health care services to over 3.5 Million patients per annum.
For further information, please visit our website at www.calian.com, or contact us at firstname.lastname@example.org
Certain information included in press releases on this site is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; the dependence on new product development; the impact of rapid technological and market change; the ability of Calian to integrate the operations and technologies of acquired businesses in an effective manner; general industry and market conditions and growth rates; international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, see the reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.
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