Medisys Receives Proposal to be Taken Private at $7.00 Per Unit

    MONTREAL, Aug. 14 /CNW/ - Medisys Health Group Income Fund (TSX: MHG.UN)
("Medisys" or the "Fund"), one of Canada's leading national providers of
healthcare services to corporations and insurance companies, today announced
that it has received a written proposal from its significant holder, the Elman
family, through which the Fund would be taken private at a net price of $7.00
per Unit, in cash.
    The Board of Trustees of the Fund has established a Special Committee of
independent trustees that will consider the proposed transaction and make
recommendations to the Board, as well as supervise the preparation of a formal
valuation in connection with the proposed transaction, as required by Canadian
securities laws. Blair Franklin Capital Partners will undertake the formal
independent valuation on behalf of the Special Committee. Borden Ladner
Gervais LLP is acting as legal counsel to the Special Committee.
    The transaction is subject to negotiation of satisfactory transaction
documentation (including a purchase agreement containing customary terms and
conditions for a transaction of the type contemplated by the Elman family);
the approval, support and favourable recommendation of the transaction to
Unitholders by the Special Committee; and receipt of required regulatory and
other approvals, including Unitholder approvals as required by the Fund's
declaration of trust and applicable securities laws.
    The Fund cautions Unitholders and others considering trading in units of
the Fund that it has just received the aforesaid proposal and no binding
agreement has been signed by the Fund with respect to such proposal.
Accordingly, there can be no assurance that the transaction contemplated by
the proposal, or any other transaction, will be completed.

    About Medisys Health Group

    Medisys Health Group is a leading Canadian provider of healthcare and
medical imaging services to corporations and individuals 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
preventive, 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
national 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 Medisys Health Group Income
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 as outlined in the Fund's management's discussion and analysis for
the period ended June 30, 2007, and other filings with the Canadian securities
regulatory authorities. Actual results and events may vary.

    %SEDAR: 00022283EF

For further information:

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

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