Canada Healthcare Acquisition Inc. and Healthcare Ventures, Ltd. Acquire
Shares of Northstar Healthcare Inc.
VANCOUVER, Oct 4 /CNW/ - Canada Healthcare Acquisition Inc. ("CHAI"), a corporation indirectly controlled by Dr. Donald L. Kramer, announces that on September 30, 2010 it acquired 14,583,417 common shares of Northstar Healthcare Inc. ("NHC") for the consideration of C$5 million (the "Private Placement") and that its affiliate Healthcare Ventures, Ltd., ("Healthcare Ventures") concurrently exchanged all of its Class B Units of Northstar Healthcare Subco, LLC and Northstar Healthcare Acquisitions, LLC (both subsidiaries of NHC) for 4,195,029 common shares of Northstar (the "Exchange").
Following the Private Placement and the Exchange, the common shares owned or controlled by Dr. Kramer represent 56.54% of the issued and outstanding common shares of NHC. Dr. Kramer, together with CHAI and Healthcare Ventures, exercises control or direction over 18,854,246 common shares of NHC representing 56.54% of the issued and outstanding common shares of NHC.
The Shares of NHC were acquired for investment purposes. Depending upon market conditions and other factors that CHAI or Healthcare Ventures may deem material to their investment decisions, additional common shares may be purchased in the open market or in private transactions. Depending on these same factors, common shares currently owned (or hereafter acquired) by either CHAI or Healthcare Ventures may be sold in the open market or in private transactions.
For additional information concerning the foregoing or a copy of the Early Warning Report referred to in this release, please contact:
For further information:
Canada Healthcare Ventures Inc. and Healthcare Ventures, Ltd.
Donald L. Kramer
Tel: 713-355-1500
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