MONTREAL, Aug. 1, 2012 /CNW Telbec/ - OPMEDIC GROUP INC. ("OPMEDIC GROUP") (TSX: OMG) is pleased to announce that it has completed the acquisition effective August 1, 2012, of all of the issued and outstanding shares of Northern Reproductive Therapies Inc. ("NRT") (the "Acquisition").
NRT operates a small fertility clinic north of Toronto in the Town of Newmarket, about 25 km north of the City of Toronto. The clinic offers fertility treatments other than egg retrievals and embryo transfers.
The Acquisition will allow OPMEDIC GROUP to expand its presence in Ontario in the north and central York Region area and will also allow the creation of synergy between NRT's clinic and the full services of PROCREA Fertility Centre situated in Vaughan (Ontario) through an increased volume of patient referrals.
"The Acquisition of Northern Reproductive Therapies is another step towards OPMEDIC GROUP's strategic plan and growth strategy to expand our fertility services activities outside Quebec. With our strong balance sheet, we will continue to pursue targeted acquisitions to enhance the corporation's position as a leader in Canada in fertility services", said Dr. Pierre St-Michel, president and CEO of OPMEDIC GROUP.
About OPMEDIC GROUP
OPMEDIC GROUP is a corporation incorporated under the laws of the Province of Quebec which provides healthcare-related services including surgical and endoscopic facilities and services to patients and surgeons (with its OPMEDIC division), fertility treatments, medical imaging, laboratory services and diagnostic procedures (with its PROCREA Cliniques division and one of its joint ventures) and sperm banking services (with its PROCREA Cryopreservation Centre subsidiary). OPMEDIC GROUP's Common Shares trade on the Toronto Stock Exchange under the symbol "OMG".
This news release does not constitute an offer to sell or to solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful. This news release contains certain forward-looking statements that reflect the current views and/or expectations of OPMEDIC GROUP with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
The content of this press release has not been approved by nor submitted to the TSX which assumes no liability therefore.
SOURCE: OPMEDIC GROUP INC.
For further information:
Chief Operating Officer and Vice-President, Business Development
(514) 345-8535, x 2254