MONTREAL, July 21 2005 – Medisys Health Group Income Fund (TSX: MHG.UN)
(the “Fund”), one of Canada’s leading national providers of healthcare
services to corporations and insurance companies, today announced that it has
entered into a binding agreement to acquire MDS Executive Health Services
(“MDSEHS”), a business unit of MDS Inc.
MDSEHS, with offices in Toronto and Montreal, generated approximately
$3 million in revenue in its most recent financial year. The acquisition is
expected to close during the third quarter of 2005 and is expected to be
neutral to the Fund’s cash available for distributions for the next twelve
months and accretive thereafter.
“Our strategy remains to build a national presence by consolidating a
fragmented industry,” said Dr. Sheldon Elman, President & CEO of Medisys.
“With this acquisition, Medisys solidifies its position as the largest
national executive health services provider.”
Medisys is now able to provide even greater convenience to its clients,
offering multiple executive health locations in Toronto – both in the
financial district at 250 University Avenue, and in mid-town at 95 St. Clair
Medisys executive health services feature a multidisciplinary team of
health professionals, experts in medicine, nutrition, fitness and stress
management that strives to increase the overall health of its clients by
enhancing and promoting the health, wellness, and quality-of-life of
executives. Medisys executive health programs are based on yearly, preventive,
comprehensive medical evaluations. Advanced diagnostic tools and a
personalized approach to prevention are used to achieve an increase in
wellness and a reduction in health risks. The results of Medisys’ examinations
are confidential, and services are flexible in order to meet the daily
challenges and busy schedules of its executive clients.
About Medisys Health Group
Medisys Health Group is a leading Canadian provider of healthcare
services to corporations, medical imaging services and health-related
underwriting support services to insurance companies. Through its national
network of facilities, including offices in Montreal, Toronto, Calgary and
Vancouver, Medisys’ corporate health services division delivers preventative,
diagnostic and consultative healthcare services to approximately 4,000
corporations, including 285 companies of the Financial Post 500. Medisys’
medical imaging operations service patient populations in both Ontario and
Quebec. Medisys’ insurance medical services division supports the underwriting
activities of more than 60 Canadian and U.S. life and health insurance
companies. Medisys Health Group Income Fund is an unincorporated, open-ended,
limited purpose trust established to invest in Medisys Health Group and its
subsidiaries. For more on Medisys visit http://www.medisys.ca/.