MedXL Group Announces Commencement of Court -Approved Sale and Investment Solicitation Process

MONTREAL, Aug. 14, 2024 /CNW/ - On July 24, 2024, MedXL Inc. ("MedXL"), Liebel-Flarsheim Canada Inc. ("Liebel"), 9431-0091 Québec Inc. ("9431") and 9190-2395 Québec Inc. ("9190" and together with MedXL, Liebel and 9431, the "MedXL Group") were granted protection pursuant to an initial order (the "Initial Order") issued under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36 (the "CCAA"), as amended, by the Superior Court of Quebec (Commercial Division) (the "Court"). FTI Consulting Canada Inc. was appointed by the Court as monitor to the MedXL Group (in such capacity, the "Monitor"). On August 6, 2024, the Initial Order was amended and restated by the Court (the "Amended and Restated Initial Order").

On August 6, 2024, the Court also rendered an order (the "SISP Approval Order") authorizing the Monitor to conduct a sale and investment solicitation process in respect of the MedXL Group (the "SISP") in accordance with certain bidding procedures approved by the Court (the "Bidding Procedures").

The SISP is intended to solicit interest in, and opportunities for, a sale of, or investment in, all or substantially all, or one or more components of the assets and/or the business operations of the MedXL Group.

All qualified interested parties will be provided with an opportunity to participate in the SISP, including receipt of a confidential information memorandum and access to a virtual data-room upon the execution of a non-disclosure agreement acceptable to the MedXL Group and the Monitor.

The SISP shall consist of a two-phased process. Qualified interested parties who wish to submit a bid must deliver a non-binding letter of interest to the Monitor in accordance with the SISP and the Bidding Procedures by no later than 5:00 p.m. (Eastern Time) on September 12, 2024. Qualified bidders who wish to submit a formal offer must then submit a binding offer to the Monitor no later than 5:00 p.m. (Eastern Time) on October 10, 2024.

Copies of the Initial Order, the Amended and Restated Initial Order, the SISP Approval Order (including the Bidding Procedures) and all related materials may be obtained from the website of the Monitor at http://cfcanada.fticonsulting.com/MedXL/

All parties interested in participating in the SISP may contact the Monitor to receive additional information at [email protected]

About the MedXL Group

The MedXL Group is a group of private Québec-based entities which manufacture medical devices and prefilled syringes. The MedXL Groupe designs, manufactures and markets medical devices related to drug delivery and, more specifically, prefilled syringes used for vascular access device maintenance.

SOURCE MedXL Inc. and affiliated companies

For further information regarding the proceedings commenced by the MedXL Group under the CCAA, you can refer to the Monitor's website at http://cfcanada.fticonsulting.com/MedXL/