Med-Emerg International Inc. reports 21% revenue increase in fourth quarter



    TORONTO, March 31 /CNW/ - Med-Emerg International Inc. (OTCBB - MDER),
announced today that for the year-ended December 31, 2007 revenues were
$21.7 million compared to $17.7 million for the year-ended December 31, 2006,
an increase of 22% (all amounts are $US unless otherwise stated). For the
twelve month period, earnings before depreciation, amortization, interest and
taxes (EBITDA) declined to a loss of ($756K) from $159K in 2006. The negative
change in EBITDA arose largely as a result of losses incurred by the Pain
Management division. Losses in Pain Management increased to $1.1 million in
2007 from $0.5 million in 2006, as a result of costs incurred to open five new
pain centers and the costs associated with the internal infrastructure
necessary to support the continued growth of the Pain business.
    Revenues from continuing operations, for the three months ended
December 31, 2007 increased 21% while EBITDA decreased to a loss of $285K from
a loss of $25K in 2006. The increase in revenue reflects the increasing impact
of the Company's Pain Management business. As with the twelve month results,
the increased loss reflects the costs incurred in expanding the Pain
Management infrastructure.


    
    (US$000's except            Three Months Ended         Year Ended
     share information)            December 31             December 31
                          ------------------------- -------------------------
                                2007        2006        2007        2006
    Revenue                        5,488       4,546      21,669      17,717
    EBITDA                          (285)        (25)       (756)        159
    Loss from continuing
     operations                     (308)         35        (811)        (27)
    Income (loss) from
     discontinued operations          11        (330)         97         851
    Net income (loss)
     attributable to common
     shareholders                   (297)       (295)       (713)        824
    Net income (loss) per
     common share (basis and
     diluted)
      Continuing operations       (0.005)      0.001      (0.014)     (0.000)
      Discontinued operations      0.000      (0.006)      0.001       0.014
    Weighted average shares
     outstanding, basic       58,277,696  58,277,696  58,277,696  58,277,696


    (US$000's)                                        December     December
                                                      31, 2007     31, 2006
    Balance Sheet Data:
      Working Capital Surplus                             2,472        3,912
      Total Assets                                        7,529        7,901
      Long-term debt                                        445          642
      Shareholders' equity - Canadian GAAP                  880        1,424
      Shareholders' equity - US GAAP                      1,010          907
    

    The Company reported a loss attributable to common shareholders for the
year ended December 31, 2007 of $713K ($0.014 per share) compared to income of
$824K ($0.014 per share) for the year ended December 31, 2006. In 2006 the
Company reported income from discontinued operations of $851K resulting from a
contractual settlement, compared to income of $97K in 2007.

    MEII specializes in the coordination and delivery of health care services
across Canada. These services include community-based infusion centers, an
integrated chronic pain management program, healthcare consulting, and health
human resource management, including physician and nurse staffing.

    All statements included in this press release that are not statements of
historical fact are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. The words "plan", "expect",
"believe", "intend", "anticipate", "forecast", "target", "estimate" and
similar expressions identify forward-looking statements. Forward-looking
statements are based on assumptions made by and information currently
available to the Company. Investors are cautioned that these forward-looking
statements are neither promises nor guarantees, and are subject to risks and
uncertainties that may cause future results to differ materially from those
expected. These risks and uncertainties are outlined in the Company's Annual
Report on Form 10-K for 2007, and such other documents as are filed with the
Securities and Exchange Commission from time to time. The Company does not
undertake to review or update these forward-looking statements. The Company
qualifies all of the information contained in this press release, and
particularly its forward-looking statements, by these cautionary statements.

    %SEDAR: 00014075E




For further information:

For further information: Ramesh Zacharias, CEO, Med-Emerg International
Inc., Tel: (905) 858-1368, Email: rzacharias@med-emerg.com

Organization Profile

MED-EMERG INTERNATIONAL INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890