OPMEDIC GROUP Participates in the Opening of a New Fertility Clinic in
Ontario
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
MONTREAL, Nov. 17 /CNW Telbec/ - OPMEDIC GROUP INC. ("OPMEDIC GROUP") (TSX: "OMG"), a healthcare-related company in fertility, laboratories and surgeries providing services and facilities to patients and surgeons, is pleased to announce the opening of a new fertility clinic in the North of Toronto, in the City of Vaughan, Ontario. A collaborative arrangement was signed between OPMEDIC GROUP and a health professional. The Clinic will be situated at the Upper Thornhill Medical Centre and will occupy approximately 11,300 sq. ft. on the fourth floor of this newly built medical centre. The initial term of the lease for the Clinic will be for a period of 10 years with two additional options to renew for five year term each. OPMEDIC GROUP expects that the Clinic will commence operations and open to the public in March 2011 subject to the receipt of all required permits and approvals.
OPMEDIC GROUP estimates the cost of the project at $2.5 million, and will finance its investment from its working capital.
"The opening of this first fertility clinic outside of Quebec and its addition to the existing fertility facilities in Montreal and in Quebec City positions OPMEDIC GROUP as one of the leaders in Canada for the provision of fertility services through its PROCREA Clinic's division. This Clinic is the first step to expand our fertility activities in Canada by providing high quality fertility services with state-of-the-art facilities. This Clinic also constitutes the second major project of OPMEDIC GROUP in the past 12 months with the South Shore Medical Center which is now scheduled to open this Spring", said Dr Pierre St-Michel, President and CEO of OPMEDIC GROUP.
About OPMEDIC GROUP
OPMEDIC GROUP is a company incorporated under the laws of the Province of Québec which provides healthcare-related services including surgical and endoscopic facilities and services to patients and surgeons (with its OPMEDIC division), fertility treatments, medical imaging, laboratory services and diagnostic procedures (with its PROCREA Cliniques division) and sperm banking services (with its PROCREA Cryopreservation Centre subsidiary). OPMEDIC GROUP's Common Shares trade on the Toronto Stock Exchange under the symbol "OMG".
This news release does not constitute an offer to sell or solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful. This news release contains certain forward-looking statements that reflect the current views and/or expectations of OPMEDIC GROUP with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
The Content of this press release has not been approved by or submitted to the TSX, which assumes no liability therefore.
For further information:
Jean-Marc LACHANCE
Vice President Finance and Chief Financial Officer
(514) 345-8535, x 2260
[email protected]
Paulo BOUÇA
Chief Operating Officer and Vice-President, Business Development
(514) 345-8535, x 2254
[email protected]
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