In response to today's announcement that BDO Canada Limited has been
appointed by the Ontario Superior Court of Justice as the receiver of
the assets, properties and undertakings of Premier Fitness Clubs Inc.
and its related companies and that it has entered into an agreement
with PM Management Systems (Physiomed) to manage the operations and
business of Premier Fitness Clubs:
TORONTO, Feb. 10, 2012 /CNW/ - We are extremely pleased that BDO has
placed its confidence in Physiomed. We want to assure all members that
we remain committed to delivering change and to providing a
member-centric whole health experience for all Physiomed Fitness
A few months ago, we entered into an understanding to take over the
Fitness Club assets of Premier Fitness and other related brands.
Unfortunately, the transfer of these assets to Physiomed could not be
completed as expected due to various complications.
As a result, Premier Fitness has now been placed into formal
receivership, and we have agreed to manage these clubs. We intend to
continue to work towards completion of a transaction to acquire these
assets as soon as possible.
Although unexpected and unfortunate, this development does not change,
in any way, our intention to help change the way that the Canadian
health and fitness industry operates. We remain steadfast in our goal
of providing everyone with an unparalleled level of access to
professional health and fitness support; the likes of which was
previously only available to the wealthiest Canadians at executive
health clinics. We will continue to support the members of these clubs
and the people of these communities by operating with the same focus on
integrity, fairness and outstanding customer service.
Whether you're looking to lose weight, improve your athletic
performance, recover from an injury or manage a chronic condition,
Physiomed can help.
Physiomed is one of Canada's largest and fastest growing franchisee
networks of healthcare clinics. Its founder, Dr. Scott Wilson, began
helping Canadians improve their health in 1994 and has since brought
together a team of hundreds of highly skilled healthcare professionals
from over a dozen disciplines. Physiomed is proud to have helped
improve the health and fitness of hundreds of thousands of Canadians.
For more information, please visit: www.physiomed.ca To request a free 30-day membership and Physiomed Health Assessment,
please visit: www.physiomedfitness.ca
For further information:
Media Inquiries Contact:
416-360-6522 ext. 237