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MONTREAL, July 21 /CNW Telbec/ - OPMEDIC GROUP INC. ("OPMEDIC GROUP") (TSX: "OMG"), a healthcare-related company in fertility, laboratories and surgeries providing services and facilities to patients and surgeons, notes that the Government of Quebec has today published in the Gazette officielle the Regulation respecting clinical activities related to assisted procreation and the Regulation amending the Regulation respecting the application of the Health Insurance Act, (collectively the "Regulations"). This will allow the new legislative provisions permitting the provision of free assisted procreation services as of August 5, 2010 to come into force. The Regulations list the assisted procreation services that will be covered or paid for by the public health care system. Consequently, starting on August 5, 2010, all expenses for medical activities and drugs used for artificial insemination and three cycles of in vitro fertilization that are covered by the Regulations will be assumed by the public health care system. Couples or individuals who qualify for such procreation services will no longer be required to pay for such services.
On April 22, 2009 the Quebec Minister of Health tabled Bill 26 to regulate clinical and research activities related to assisted procreation and to cover assisted procreation services determined by regulation, including in vitro fertilization (IVF), under the Quebec Health Insurance Act. Bill 26 was passed and assented to on June 18, 2009 as An Act respecting clinical and research activities relating to assisted procreation.
The Government of Quebec estimates that the number of in vitro fertilization cycles will increase from about 2,000 currently to 3,500 in the coming year and to 7,000 in 2014-2015.
"OPMEDIC GROUP, through its PROCREA Cliniques division, already performs over 25% of the in vitro fertilization cycles in Quebec and currently has the capacity and the infrastructure required to double this number. A dedicated medical team is ready to receive users of assisted procreation services at our clinics in Montreal and Quebec City," said Dr. Pierre St-Michel, President and CEO of OPMEDIC GROUP
About OPMEDIC GROUP
OPMEDIC GROUP is a company incorporated under the laws of the Province of Quebec which provides healthcare-related services including surgical and endoscopic facilities and services to patients and surgeons (with its OPMEDIC division), fertility treatments, medical imaging, laboratory services and diagnostic procedures (with its PROCREA Cliniques division) and sperm banking services (with its PROCREA Cryopreservation Centre subsidiary). OPMEDIC GROUP's Common Shares trade on the Toronto Stock Exchange under the symbol "OMG".
This news release contains certain forward-looking statements that reflect the current views and/or expectations of OPMEDIC GROUP with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly. OPMEDIC GROUP disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except if we are obliged to do so by a governmental authority or applicable law.
The content of this press release has not been approved by or submitted to the TSX, which assumes no liability therefore.
SOURCE Opmedic Group Inc.
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