Futuremed Completes Dismed Acquisition and Public Offering of Units
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TORONTO, June 30 /CNW/ – Futuremed Healthcare Income Fund (“Futuremed”)(TSX:FMD.UN) announced today that is has completed its previously announced acquisition of Dismed Inc., a leading supplier of medical supplies, instruments and equipment throughout the province of Quebec. In addition, Futuremed completed an offering of 1,875,000 units, issued at a price of $9.10 per unit, that were sold on a bought deal basis to a syndicate of underwriters led by CIBC World Markets Inc. and National Bank Financial Inc.
The acquisition provides Futuremed with a leading distribution platform in the Quebec marketplace, which Futuremed can leverage to service the Eastern Canadian market. The acquisition provides Futuremed 2,500 customers and a highly skilled workforce, totalling 60 employees, including a dedicated sales and marketing team with strong relationships in Quebec. In addition, the acquisition provides Futuremed an operating facility in excess of 80,000 square feet.
Futuremed Health Care Income Fund
Futuremed Healthcare Income Fund, through its operating entities, is Canada’s leading value-added distributor of consumable nursing home supplies and specialized furniture and equipment to the growing long-term care facilities sector. Futuremed’s units trade on the Toronto Stock Exchange under the symbol FMD.UN. More information can be found at www.futuremed.ca.
Founded in 1979 and based in Montreal, Dismed Inc. is a supplier of medical supplies, instruments and equipment throughout the province of Quebec.
For additional information please visit: www.dismed.com.
For further information: Futuremed Healthcare Income Fund, Daniel Sacks, Chief Financial Officer, (905) 761-0068, Website: www.futuremed.ca
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