MediSolution Ltd. (CC:MSH) Announces Acquisition Of CIO
10/19/2005 5:11:10 PM
MediSolution Ltd. (TSX: MSH), a leading Canadian healthcare information technology company, today announced it has completed the acquisition of Conseillers Info-Orientes Inc.("CIO"), a provider of integrated financial applications for service industries. CIO, developer of the VIRTUO ERP suite, has a strong market position in healthcare and public sector organisations, and a base of more than 175 customers that generated approximately $4 million of revenue over the past year. The acquisition stems from a successful two-year partnership whereby MediSolution was a reseller of CIO's financial and materials management systems to the healthcare industry. CIO's customers include several Quebec public and private organisations including the Museum of Civilization, National Bank of Canada, Quebec Ministry of Tourism, Montreal Convention Center and Commission de la Santé et Sécurité au Travail (CSST).