AIM Health Group Inc. provides update on integration progress with Med-Emerg International Inc. and announces filing of annual financial results for the year ended December 31, 2008

    TORONTO, April 30 /CNW/ - As previously announced, AIM Health Group Inc.
("AIM") (TSXV - AHG), a fully integrated health care company, acquired
Med-Emerg International Inc.("MEI") on January 20, 2009, resulting in AIM
becoming one of the largest Canadian health services providers with annual
revenues in excess of Cdn$55 million. The combined company has a strong
infrastructure, a very experienced management team and one of the most
comprehensive packages of medical health services in Canada. The Company
believes that this combination has created a platform that will allow for the
efficient consolidation of other fragmented health services and health care
companies, in the future.
    To date, the integration activities have focused on the continued
development of new service line opportunities and the integration of services
of both companies. The service line integration and growth is expected to
generate substantial cost savings. During the quarter AIM integrated the first
MEI pain clinic into one of its much larger Health and Wellness Centres. AIM
was also successful in obtaining new contracts for our pharmaceutical and
corporate services lines. AIM believes that its success in obtaining these
contracts was, in part, because of the expanded capabilities of AIM. Many of
the duplicate costs of the two companies have been eliminated but AIM expects
that there are more synergies to achieve. The Company expects that the
financial statement impact of these savings will become more obvious in the
third quarter of the current year.
    The Company also announced today that it has filed its December 31, 2008
financial results with the securities regulatory authorities. Such financial
results may be found on SEDAR at
    Lu Barbuto, President and Chief Executive Officer of AIM commented, "The
results for 2008 reflect the significant investment that the Company made into
its infrastructure in preparation for our future growth. The transaction with
MEI was challenging and costly but it was a significant transaction in our
business growth strategy. While we were not able to commence effective
integration activity until after the January 20, 2009 closing, I believe that
we are well on our way with the integration of MEI operations into the AIM
corporate structure. We see 2009 as a pivotal year in our Company's

    About AIM Health Group Inc.

    AIM is a fully integrated Canadian health care company that offers
comprehensive services to individuals that are ill, injured, or disabled, and
to individuals requiring lifestyle interventions to improve their quality of
life (wellness). This philosophy translates into a continuum of health
delivery where the individual's health care is integrated with the various
service providers through a complex public-private delivery model. This
continuum of care model is the core concept of AIM's integrated service and
delivery model.
    AIM's integrated business health delivery divisions integrate all aspects
of health care from clinical research, medical assessments, occupational
health, multi-disciplinary rehabilitation, medical acute care, family practice
and specialty clinics. These services also include an integrated chronic pain
management program, community-based infusion centers and health human resource
management, including physician and nurse staffing. AIM provides comprehensive
health services through dedicated professionals who are all part of a
successful and growing organization that fosters excellence in managing an
individual's health through clinical consensus contribution.

    Caution Concerning Forward-Looking Statements

    Certain statements in this press release are forward-looking statements.
These statements are based upon certain material factors, assumptions and
analyses that were applied in drawing a conclusion or making a forecast or
projection, including AIM's experience and perceptions of historical trends,
current conditions and expected future developments, as well as other factors
that are believed to be appropriate in the circumstances. Forward-looking
statements are provided for the purpose of presenting information about
management's current expectations and plans relating to the future and readers
are cautioned that such statements may not be appropriate for other purposes.
These statements may include, without limitation, statements regarding the
operations, business, financial condition, expected financial results,
performance, prospects, opportunities, priorities, targets, goals, ongoing
objectives, strategies and outlook of AIM for the current fiscal year and
subsequent periods. Forward-looking statements include statements that are
predictive in nature, depend upon or refer to future events or conditions.
    By its nature, this information is subject to inherent risks and
uncertainties that may be general or specific and which give rise to the
possibility that expectations, forecasts, predictions, projections or
conclusion will not prove to be accurate, that assumptions may not be correct
and that objectives, strategic goals and priorities will not be achieved. A
variety of material factors, many of which are beyond AIM's control, affect
operations, performance, achievements and results of AIM that may be expressed
or implied by such forward-looking statements and could cause actual results
to differ materially from current expectations of estimated or anticipated
events or results. These factors include, but are not limited to: general
economic, industry and market segment conditions; equipment and labour
shortages and inflationary costs; changes in applicable environmental,
taxation and other laws and regulations, as well as how such laws and
regulations are interpreted and enforced; changes in technology; operating
risks, including risks inherent in the ability to generate sufficient cash
flow from operations to meet current and future obligations; increased
competition; stock market volatility; ability to maintain current and obtain
additional financing; and management's success in anticipating and managing
the foregoing factors.
    The reader is cautioned that the foregoing list of factors is not
exhaustive of the factors that may affect AIM's forward-looking statements.
The reader is also cautioned to consider these and other factors,
uncertainties and potential events carefully and not to put undue reliance on
forward-looking statements. Although the forward-looking statements contained
in this press release are based upon what management of AIM currently believes
to be reasonable assumptions, actual results, performance or achievements
could differ materially from those expressed in, or implied by, this
forward-looking information and, accordingly, no assurance can be given that
any of the events anticipated by the forward-looking information will
transpire or occur, or if any of them do so, what benefits will be derived
therefrom. These forward-looking statements are made as of the date of this
release and, other than as specifically required by law, AIM does not assume
any obligation to update or revise any forward-looking statement to reflect
events or circumstances after the date on which such statement is made, or to
reflect the occurrence of unanticipated events, whether as a result of new
information, future events or results, or otherwise.

For further information:

For further information: AIM Health Group Inc., Lu Barbuto, President
and Chief Executive Officer or Greg Van Staveren, Chief Financial Officer,
(905) 475-3353

Organization Profile


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