CML HealthCare Inc. Closes the Sale of Alberta Imaging Business
MISSISSAUGA, ONTARIO--(Marketwire - Nov. 5, 2012) - CML HealthCare Inc. (TSX:CLC) (the "Company" or "CML") today reported it has completed the previously announced sale of its diagnostic imaging business in Alberta to Canada Diagnostic Centres ("CDC"). The cash proceeds of Cdn$17.0 million will be applied initially to reduce the Company's debt with the ultimate goal of redeploying the capital into new growth initiatives as they arise.
"I would like to thank the teams from CML and CDC for their diligent effort in bringing this transaction to a timely close and for mutual benefit," said Thomas Wellner, President and CEO of CML.
About CML HealthCare Inc.
Based in Mississauga, Ontario, CML HealthCare Inc. is Canada's leading community-based, medical diagnostic services provider operating 140 laboratory collection centres in Ontario, 96 imaging centres in Ontario and British Columbia, and a reference laboratory in Ontario focused on specialized coagulation testing for customers worldwide. CML is publicly-traded on the Toronto Stock Exchange under the symbol "CLC" and has approximately 89.8 million common shares outstanding. For more information, please visit www.cmlhealthcare.com and follow us on Twitter @cmlhealthcare.
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We caution that the foregoing list of important factors that may affect future results is not exhaustive. When reviewing our forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Additional information about factors that may cause actual results to differ materially from expectations, and about material factors or assumptions applied in making forward-looking statements, may be found in the "Risk Factors" section of our Annual Information Form, under "Business Risks" and elsewhere in our Management's Discussion and Analysis of Operating Results and Financial Position for the year ended December 31, 2011 and elsewhere in our filings with Canadian securities regulators. Except as required by Canadian securities law, we do not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf. Such statements speak only as of the date made.
FOR FURTHER INFORMATION PLEASE CONTACT:
CML HealthCare Inc.
Director, Corporate Communications
(905) 565-0043 ext. 3472
(905) 565-2844 (FAX)