|By Marketwired .||
|February 10, 2014 09:03 AM EST||
TORONTO, ONTARIO -- (Marketwired) -- 02/10/14 -- Prism Medical Ltd., ("Prism Medical" or "the Company") (TSX VENTURE:PM), a leading provider of durable medical equipment and related services to the mobility challenged, today announced that it has acquired an additional 51% ownership interest in MedCare Products Inc. (MedCare), resulting in MedCare becoming a 100% owned subsidiary.
MedCare is a sales and service organization based out of Burnsville, Minnesota, just outside of Minneapolis PMnr 2014 02 10 - Acquires 100%St. Paul. MedCare, operating predominately in the Mid-West, supplies a wide range of products and services including ceiling lifts, floor lifts, slings and transfer aids to the U.S. Long Term Care and Acute Care markets.
In December of 2012, Prism Medical acquired a 49% ownership interest in MedCare for $450,000. At the same time, Prism Medical also acquired MedCare's manufacturing assets and inventory and an exclusive supply contract for a combined cost of $10 million with a holdback of $1.25 million related to the acquired inventory and other matters.
The remaining 51% of MedCare was purchased for $268,000 and the remaining holdbacks from the December 2012 transaction were settled for a payment of $532,000. While Prism will continue to exclusively supply all the products MedCare sells in the moving and handling industry, the supply contract was terminated at closing upon MedCare becoming a 100% owned subsidiary.
"The acquisition of 100% of MedCare is an important transaction for us as it meets a number of key strategic objectives and builds shareholder value." said Andrew McIntyre, Chairman of Prism Medical. "MedCare will continue to operate as before from its base in Burnsville, Minnesota, relying on the strength of its local personnel, reputation for service, enhanced product offering and its strong customer base, which includes several world-renowned hospital groups, in order to further expand the business."
"Prism has been a key partner for MedCare in enhancing our ability to grow." said Jennifer Smith, former CEO of MedCare. "We are very pleased that they are committed to maintaining an entrepreneurial focus and building upon the strengths of our local presence, experienced and dedicated personnel and commitment to our customers."
About MedCare Products Inc.
MedCare Products Inc. is a distributer and marketer of patient lift equipment made to prevent caregivers and patients from sustaining injuries during the process of moving and transferring. The Company has a complete product offering of floor lifts, ceiling lifts, car extractors, slings and transfer aids giving the Company the advantage of being able to offer 24-hour parts response as well as localized service, support and training to its customer base. In 2011, MedCare Products was named to the Fastest 50 List as the 10th fastest growing company in Minnesota by the Minneapolis-St. Paul Business Journal.
About Prism Medical Ltd.
Prism Medical Ltd. is one of the largest providers and manufacturers of durable medical equipment and related services to the mobility challenged in Canada, the US and the UK, with more than 100,000 installations and 200,000 product solutions sold. The Prism Medical brands include Waverley Glen and ErgoSafe, North America's leading supplier of lifting, handling and repositioning aid products and services across Canada and the US. Freeway and Prism Service & Repair are leading suppliers of moving and handling products and services in the UK. For further information visit Prism Medical's website at www.prismmedicalltd.com or www.sedar.com.
This document contains forward-looking statements relating to our operations and to the environment in which we operate and our strategy, action plans and investments, which may involve estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and/or are beyond our control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. These factors include those set forth in this report and our other public filings. Consequently, readers should not place any undue reliance on such forward-looking statements. These forward-looking statements are made as of the date of this report. Prism Medical is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors. All forward-looking statements attributable to Prism Medical are expressly qualified by these cautionary statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
Jan. 18, 2017 01:15 AM EST Reads: 4,852
"Splunk basically takes machine data and we make it usable, valuable and accessible for everyone. The way that plays in DevOps is - we need to make data-driven decisions to delivering applications," explained Andi Mann, Chief Technology Advocate at Splunk and @DevOpsSummit Conference Chair, in this SYS-CON.tv interview at @DevOpsSummit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 18, 2017 01:00 AM EST Reads: 2,001
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jan. 18, 2017 01:00 AM EST Reads: 6,040
"Logz.io is a log analytics platform. We offer the ELK stack, which is the most common log analytics platform in the world. We offer it as a cloud service," explained Tomer Levy, co-founder and CEO of Logz.io, in this SYS-CON.tv interview at DevOps Summit, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 18, 2017 12:45 AM EST Reads: 6,237
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
Jan. 18, 2017 12:45 AM EST Reads: 5,936
In his session at @DevOpsSummit at 19th Cloud Expo, Robert Doyle, lead architect at eCube Systems, will examine the issues and need for an agile infrastructure and show the advantages of capturing developer knowledge in an exportable file for migration into production. He will introduce the use of NXTmonitor, a next-generation DevOps tool that captures application environments, dependencies and start/stop procedures in a portable configuration file with an easy-to-use GUI. In addition to captur...
Jan. 18, 2017 12:30 AM EST Reads: 2,774
Due of the rise of Hadoop, many enterprises are now deploying their first small clusters of 10 to 20 servers. At this small scale, the complexity of operating the cluster looks and feels like general data center servers. It is not until the clusters scale, as they inevitably do, when the pain caused by the exponential complexity becomes apparent. We've seen this problem occur time and time again. In his session at Big Data Expo, Greg Bruno, Vice President of Engineering and co-founder of StackIQ...
Jan. 18, 2017 12:00 AM EST Reads: 7,728
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 18, 2017 12:00 AM EST Reads: 2,252
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
Jan. 17, 2017 11:30 PM EST Reads: 4,302
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of D...
Jan. 17, 2017 11:15 PM EST Reads: 4,881
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
Jan. 17, 2017 11:00 PM EST Reads: 524
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Dave McCarthy, Director of Products at Bsquare Corporation; Alan Williamson, Principal ...
Jan. 17, 2017 10:30 PM EST Reads: 2,339
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Jan. 17, 2017 10:30 PM EST Reads: 688
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software securi...
Jan. 17, 2017 09:30 PM EST Reads: 1,769
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Jan. 17, 2017 09:15 PM EST Reads: 7,538