Medisys Health Group Income Fund receives formal offer from Elman family

    MONTREAL, Feb. 14 /CNW/ - Medisys Health Group Income Fund (TSX: MGH.UN)
(the "Fund") announces that it has received the formal offer to acquire all of
the issued and outstanding ordinary trust units (the "Units") of the Fund from
6799221 Canada Limited, a corporation controlled by the Elman family, and
understands that the offer has been mailed to the unitholders of the Fund. A
special committee of independent members of the board of trustees of the Fund
is evaluating the offer with its financial and legal advisors and will
formally respond following completion of that evaluation. Copy of the offer is
available at the SEDAR website at

    About Medisys Health Group

    Medisys Health Group is a leading Canadian provider of healthcare
services to corporations, medical imaging services and health-related
underwriting support services to insurance companies. Through its national
network of facilities, including offices in Montreal, Ottawa, Toronto, Calgary
and Vancouver, Medisys' corporate health services division delivers
preventative, diagnostic and consultative healthcare services to approximately
4,000 corporations, including 320 companies of the Financial Post 500.
Medisys' medical imaging operations service patient populations in both
Ontario and Quebec. Medisys' insurance medical services division supports the
underwriting activities of more than 60 Canadian and U.S. life and health
insurance companies. Medisys Health Group Income Fund is an unincorporated,
open-ended, limited purpose trust established to invest in Medisys Health
Group and its subsidiaries.

    This media release may contain certain forward-looking statements that
reflect the current views and/or expectations of the Fund, Medisys Holding LP,
Medisys Health Group Inc., and Medisys Health Group LP with respect to their
respective performance, business, and future events. Such statements are
subject to a number of risks, uncertainties, and assumptions. Actual results
and events may vary.

For further information:

For further information: Stuart M. Elman, President & CFO, Medisys
Health Group, Phone: (514) 499-2778, Email:

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