MONTREAL, Dec. 12 /CNW Telbec/ - Société générale de financement du
Québec (SGF) has acquired 490,000 common shares of Logibec Groupe Informatique
Ltd. (TSX: LGI) at a cost of C$9.6 million as part of a private placement of
1,204,700 new shares issued by the company at a price of C$19.50. Logibec,
whose head office is in Montréal, is one of the 10 largest Canadian companies
specializing in the development, marketing, implementation and support of
information systems for the health and social services sector.
SGF supports Logibec's strategy of growth in the elder-care sector in the
United States. Logibec recently announced the acquisition of Achieve
Healthcare Technologies, its main competitor in the U.S. The transaction is in
line with the strategy of development by acquisitions that Logibec has adopted
in recent years. Achieve develops, markets and supports clinical and
administrative software designed for seniors communities and residences in the
United States. The acquisition positions Logibec as a major player, with a
share of more than 10% of this market in the U.S.
SGF salutes the vision and expertise of Logibec's executives. "We support
Logibec's strategy of acting as a consolidator in this rapidly growing area,"
stated Pierre Shedleur, President and General Manager of SGF. "We're proud to
be associated with this well-managed company in its ongoing expansion."
Logitech's President and Chief Executive Officer Claude Roy welcomed the
partnership with SGF. "We were delighted we could count on SGF's support for
our North American growth strategy. This support will help give us the tools
we need to set ourselves apart in an extremely promising niche," Mr. Roy
Logibec is among the 10 largest Canadian companies specializing in the
development, marketing, implementation and support of information systems for
the health and social services sector. Logibec serves more than 200 clients
throughout Québec and the rest of Canada. Through its wholly owned subsidiary
MDI Technologies Inc., Logibec also serves about 6,000 senior living
communities and long-term care facilities throughout the United States. These
services are delivered by an experienced team of 390 employees. The company
has its head office in Montréal as well as offices in Québec City, Edmonton,
Smithfield, Tampa, St. Louis and Minneapolis.
ABOUT SOCIETE GENERALE DE FINANCEMENT DU QUEBEC
Société générale de financement du Québec (www.sgfqc.com), an industrial
and financial holding company, has a mission to carry out economic development
projects, with emphasis on the industrial sector, in co-operation with
partners and on standard profitability conditions, in accordance with the
economic development policy of the Québec government.
Communications and Media Relations
Société générale de financement du Québec
For further information:
For further information: Marie-Claude Lemieux, Senior Advisor,
Communications and Media Relations, Société générale de financement du Québec,
(514) 876-9368, email@example.com