Statement from Dr. Scott Wilson, Physiomed Chairman and CEO

In response to today's announcement that BDO Canada Limited has been appointed by the Ontario Superior Court of Justice as the receiver of the assets, properties and undertakings of Premier Fitness Clubs Inc. and its related companies and that it has entered into an agreement with PM Management Systems (Physiomed) to manage the operations and business of Premier Fitness Clubs:

TORONTO, Feb. 10, 2012 /CNW/ - We are extremely pleased that BDO has placed its confidence in Physiomed. We want to assure all members that we remain committed to delivering change and to providing a member-centric whole health experience for all Physiomed Fitness members.

A few months ago, we entered into an understanding to take over the Fitness Club assets of Premier Fitness and other related brands. Unfortunately, the transfer of these assets to Physiomed could not be completed as expected due to various complications.

As a result, Premier Fitness has now been placed into formal receivership, and we have agreed to manage these clubs. We intend to continue to work towards completion of a transaction to acquire these assets as soon as possible.

Although unexpected and unfortunate, this development does not change, in any way, our intention to help change the way that the Canadian health and fitness industry operates. We remain steadfast in our goal of providing everyone with an unparalleled level of access to professional health and fitness support; the likes of which was previously only available to the wealthiest Canadians at executive health clinics. We will continue to support the members of these clubs and the people of these communities by operating with the same focus on integrity, fairness and outstanding customer service.

Whether you're looking to lose weight, improve your athletic performance, recover from an injury or manage a chronic condition, Physiomed can help.

About Physiomed:

Physiomed is one of Canada's largest and fastest growing franchisee networks of healthcare clinics. Its founder, Dr. Scott Wilson, began helping Canadians improve their health in 1994 and has since brought together a team of hundreds of highly skilled healthcare professionals from over a dozen disciplines. Physiomed is proud to have helped improve the health and fitness of hundreds of thousands of Canadians.

For more information, please visit: www.physiomed.ca  To request a free 30-day membership and Physiomed Health Assessment, please visit: www.physiomedfitness.ca

Media Inquiries Contact: 

Katherine Griggs
PUNCH Canada
416-360-6522 ext. 237
[email protected]