Press release from Marketwire
CML Healthcare Inc. Acquires Calgary-Based Rocky Mountain Analytical
Wednesday, May 01, 2013
CML Healthcare Inc. Acquires Calgary-Based Rocky Mountain Analytical06:00 EDT Wednesday, May 01, 2013
MISSISSAUGA, ONTARIO--(Marketwired - May 1, 2013) - CML HealthCare Inc. (TSX:CLC) (the "Company" or "CML"), a leading community-based provider of laboratory and medical imaging services in Ontario and British Columbia, is pleased to announce the acquisition of Rocky Mountain Analytical, the leading Canadian provider of specialized clinical laboratory testing to naturopathic doctors, physicians and other regulated medical professionals who are focused on integrative medicine. Located in Calgary, Alberta, Rocky Mountain Analytical is a medical laboratory, accredited by the College of Physicians and Surgeons of Alberta, providing tests such as urine and hair element analysis, and saliva hormone testing across Canada. Servicing over 1,500 naturopaths, along with medical doctors, Rocky Mountain Analytical has developed an industry reputation for innovation and has cultivated a loyal following of functional and integrative medicine professionals, all unified by a desire to prevent disease and achieve optimal health. For the twelve months ending December 31, 2012, Rocky Mountain Analytical's revenue was approximately $6.7 million.
"We are very pleased that Rocky Mountain Analytical has become part of the CML family. They are a great fit with our values and our business strategy of expanding our testing capabilities nationally with innovative science in a non-government reimbursement environment. This business is an important growth platform for CML and we are committed to build on Rocky Mountain Analytical's success led by Dr. George Gillson, one of the founding partners. Their capabilities are complementary to those offered by CML, allowing us to expand our test menu for all of our healthcare practitioners across the country," said Thomas Wellner, President and CEO of CML HealthCare. "Adding clinical and scientific resources in Rocky Mountain Analytical's new laboratory in Calgary also gives us more opportunities to explore growth within western Canada."
"This is a new chapter in Rocky Mountain Analytical's journey. Our clients will continue to benefit from the knowledge, skill, innovation and great customer service Rocky Mountain Analytical offers, while gaining an additional benefit from our partnership with a leading clinical laboratory that shares our vision of optimal health for Canadians. Building on strong collaborative relationships with our clinicians while advancing the science of wellness is what has made us Canada's leading wellness-focused laboratory. We know that reaching more patients through healthcare practitioners with CML will make Rocky Mountain Analytical stronger. Our management team is extremely excited about the future," said Dr. George Gillson MD PhD, President of Rocky Mountain Analytical.
About CML HealthCare Inc.
Based in Mississauga, Ontario, CML HealthCare Inc. a leading community-based, medical diagnostic services provider in Canada operating 114 Client C.A.R.E. Centres in Ontario, 84 imaging centres in Ontario and British Columbia, and a reference laboratory in Ontario focused on specialized coagulation testing and equipment calibration for international customers. CML is publicly-traded on the Toronto Stock Exchange under the symbol "CLC" and has approximately 89.8 million common shares outstanding. For more information, please visit www.cmlhealthcare.com or follow CML on Twitter @cmlhealthcare.
FOR FURTHER INFORMATION PLEASE CONTACT:
CML HealthCare Inc.
Alice Dunning, MBA, CFA
Director, Corporate Communications
(905) 565-0043 ext. 3472
(905) 565-2844 (FAX)