PRISM MEDICAL LTD. (TSX-V:PM) (“Prism”) today appear that it has completed the accretion of a UK supplier of affective and administration casework for the advancement broken able June 30, 2009. The accretion amount was $1.4m which was annoyed by a banknote transaction of $0.6m and deferred payments in the aggregate $0.8m. The deferred payments are repayable over 3 years calm with absorption at 7% over a appellation of 3 years.
The aggregation casework and maintains a advanced array of accessories including beam lifts, baths and beds into both continued appellation affliction and adroit affliction facilities.
The above buyer and key administration of the benefactor accept entered into application affairs and will abide to be amenable for the day to day operations.
Andrew A. McIntyre, Chairman and CEO of Prism stated, “The accretion continues our amplification into the accouterment of casework for our customers. The accretion is accepted to be accretive to balance in the accepted budgetary year and will strengthen Prism’s adeptness to assassinate its cardinal plans.”
About Prism:
Prism Medical Ltd. is a provider of abiding medical accessories and accompanying casework to the advancement disadvantaged in Canada, the U.S.A. and the United Kingdom. While Prism's history dates aback to 1996, Prism's subsidiaries and capacity accept been application the advancement disadvantaged back the mid 1980s in their homes, abiding affliction accessories and adroit affliction facilities. Prism includes Waverley Glen and ErgoSafe Products, North America's arch appropriation & administration accessories and repositioning aid architect with administration above Canada and the U.S., Westholme and Care Free Lifting & Handling, arch distributors of affective and administration articles in the UK, and Freeway Health Care, a UK-based architect of beam hoists and battery chairs.
Forward-looking Information:
Certain statements in this absolution may aggregate advanced statements. Such advanced statements absorb risks, uncertainties and added factors, which may could cause absolute results, achievement or achievements of the Company to be materially altered from approaching results, achievement or achievements bidding or adumbrated by such advanced statements.
Contact:
William G. Edwards
Chief Financial Officer
Prism Medical Ltd
Vaughan, ON
Tel: (905) 850-0093 ext. 242
Fax: (905) 850 0061
wgedwards@prismmedicalltd.com http://www.prismmedicalltd.com
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