/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES./
MONTREAL, June 3, 2013 /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, announces that it has agreed to sell the land
and building of the South Shore medical center.
The South Shore medical center is owned by 4531582 Canada Inc., a
corporation in which OPMEDIC Group owns 50% of the voting and economic
interest with the remaining 50% being held, directly or indirectly, by
health professionals dealing at arm's length with the company. This
real property is located outside of OPMEDIC Group's core operating
areas and its sale will not affect the company's operations. OPMEDIC
Group will continue to operate its endoscopic facilities and fertility
clinic located in the South Shore medical center under its current
lease having an initial term ending in October 2021.
Net cash proceeds for OPMEDIC Group from this divestiture of non-core
real property assets will be approximately $1.3 million. OPMEDIC Group
intends to use to net cash proceeds from this sale for general
OPMEDIC Group's President and CEO, Dr. Pierre St-Michel, commented, "I
am pleased to announce this non-core asset sale, which will further
streamline the company's operations and allow management to focus more
attention on growth opportunities, including growth opportunities in
the private healthcare and medical sector outside the Province of
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 a joint venture 7667264 Canada Inc.) 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 does not constitute an offer to sell or to
solicitation of an offer to buy any security and shall not constitute
an offer, solicitation or sale in any jurisdiction in which such
offering would be unlawful. 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
The Content of this press release has not been approved by nor submitted
to the TSX which assumes no liability therefore.
SOURCE: OPMEDIC GROUP INC.
For further information:
Vice President Finance and Chief Financial Officer
(514) 345-8535, x 2260