MONTREAL, Aug. 28 /CNW/ - Medisys Health Group Income Fund (TSX: MHG.UN)
(the "Fund") today responded to the unsolicited communication from CML
Healthcare Income Fund ("CML") expressing CML's interest in proposing a
transaction involving Medisys. CML's communication did not contain any details
as to the nature or value of such a transaction or what conditions may be
attached to it.
The Board of Trustees and the Independent Committee have met to review
CML's letter and have sent a response to CML requesting that it provide more
detail concerning its proposed transaction. Upon receipt of such details, the
Board of Trustees will meet to consider the proposal further and will respond
in due course. The Fund's Board will evaluate any definitive transaction
presented to it with a view to assessing whether it is in the best interests
of all stakeholders.
The Fund cautions Unitholders and others considering trading in units of
the Fund that no binding agreements with respect to any transaction have been
signed by the Fund. In addition to the expression of interest by CML, the Fund
has received other expressions of interest regarding all or parts of the
Fund's assets. These expressions of interest are unsolicited, and the Fund has
not and does not intend to solicit buyers at this point in time. Unitholders
are cautioned that these expressions of interest do not guarantee the
completion of a transaction and should govern themselves accordingly.
The Fund will update Unitholders with additional details as material
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 press 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 & Chief Financial
Officer, Medisys Health Group, Phone: (514) 499-2778, Email: