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TORONTO, ON. – January 18, 2019 – The Clinic Network Canada, Inc. (“TCN” or the “Company”) is pleased to announce that it has acquired all the issued and outstanding shares of 2563367 Ontario Ltd. o/a Silver Medical Group Centre for Pain Care (“Silver”), for an aggregate purchase price of $3,000,000 in cash consideration. Silver operates a College of Physicians and Surgeons of Ontario out-of-hospital licensed premises with the diagnostic imaging modalities of ultrasound and fluoroscopy.
TCN’s Chief Strategy Officer, Kim Wei, commented, “The acquisition of Silver positions TCN as one of the market-leading innovators for interventional pain services in Canada. We expect Silver will form the foundation for TCN’s national expansion plans for the establishment of chronic pain clinics in the major provincial markets across Canada.”
About The Clinic Network Canada, Inc.
The Clinic Network Canada, Inc. owns and operates 6 community-based clinics where its team of health professionals work together to help patients through a variety of evidence-based approaches. TCN’s patient care programs utilize an interdisciplinary approach that are guided by trained pain specialists and other healthcare providers.
For more information, visit The Clinic Network website: www.theclinicnetwork.ca
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Notice Regarding Forward Looking Statements
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “would”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe”, “working on” or “continue”, or the negative thereof or similar variations. There are numerous risks and uncertainties that could cause actual results and TCN’s plans and objectives to differ materially from those expressed in the forward-looking information, including: regulatory risks, including those related to healthcare, privacy, and data security; and integration risks relating to newly acquired businesses. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
For further information, please contact:
Mr. Kim Wei, COO
The Clinic Network Canada Inc.