Aim Health Group Com (TSXV:AHG)
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TORONTO, Aug. 23, 2011 /CNW/ --
AIM SHAREHOLDERS APPROVE THE PLAN OF ARRANGEMENT WITH IMPERIAL
TORONTO, Aug. 23, 2011 /CNW/ - At an annual and special meeting of
shareholders held earlier today, shareholders of AIM Health Group Inc.
("AIM" or the "Company") (TSXV: AHG) voted to approve the plan of
arrangement (the "Arrangement") pursuant to which, among other things,
an affiliate of Imperial Capital Group Ltd. will acquire all of the
issued and outstanding common shares of AIM for $0.25 per share in
cash, other than an aggregate of 17,243,500 common shares collectively
beneficially owned by the following shareholders: Dr. Lu Barbuto, Mr.
Greg Van Staveren, Mr. William Danis, Dr. Michael Sehl and Mrs. Yvonne
Chan (AIM's CEO, CFO, SVP-Operations and Finance, Medical Director-
WHCS division and Senior Sales Director- WHCS division, respectively),
and two other non-insider shareholders, each of whom will remain
shareholders of the AIM business.
AIM shareholders voted in favour of the special resolution approving the
Arrangement. The Arrangement remains subject to receipt of the final
order of the Ontario Superior Court of Justice (Commercial List) and
the satisfaction by AIM of certain customary conditions of the TSX
Venture Exchange ("TSX-V"). The Company will issue a press release upon
the completion of the Arrangement, which is expected to be on or around
August 25, 2011.
Justin MacCormack, Principal of Imperial and Head of its Healthcare
practice, said, "We are very pleased to be working with management
during the next chapter of the Company's evolution and bringing
Imperial Capital's experience in the Canadian and US healthcare sector
to help accelerate the Company's growth plan." Jeff Rosenthal, Managing
Partner of Imperial Capital added, "AIM is one of Canada's leading
healthcare companies and represents a tremendous platform for us in
Canada."
About Imperial Capital Group Ltd.
Founded in 1989, Imperial Capital is a Toronto-based private equity fund
manager that focuses on investment opportunities in small to mid-sized
companies in North America. Imperial Capital's strategy is to seek out
suitable companies with above average growth opportunities in carefully
selected industry niches to which it can add value. Imperial has
investments and significant expertise in the following industry
sectors: Healthcare, Business Services and Consumer Services and
Non-Durable Products. For further information on Imperial Capital,
please visit www.imperialcap.com.
About AIM Health Group Inc.
AIM is a fully integrated Canadian health care company that offers
community based comprehensive services to individuals that are ill,
injured, or disabled, and to individuals requiring lifestyle
interventions to improve their quality of life (wellness). This
philosophy translates into a continuum of health delivery where the
individual's health care is integrated with the various service
providers through a public-private funding delivery model. This
continuum of care model is the core concept of AIM's integrated service
and delivery model.
AIM's service lines integrate all aspects of health care and include,
but are not limited to, clinical services, which encompasses family
medicine, infusion therapies, medical chronic pain management,
inter-disciplinary rehabilitation; Corporate Health and Disability
Management; and Pharmaceutical Services including hospital and
community-based research on behalf of third-party pharmaceutical
companies, original research and pharmacy services.
Further information on AIM Health Group Inc. can be found in its
disclosure documents filed with the securities regulatory authorities,
available at www.sedar.com.
Caution Concerning Forward Looking Statements
Certain statements in this press release are forward-looking
statements. All statements other than historical fact, contained in
this press release, including but not limited to statements regarding
the proposed plan of arrangement, constitute forward-looking
statements. These statements are based upon certain material factors,
assumptions and analyses that were applied in drawing a conclusion or
making a forecast or projection, including AIM's experience and
perceptions of historical trends, current conditions and expected
future developments, successful completion of the plan of arrangement,
as well as other factors that are believed to be appropriate in the
circumstances. Forward-looking statements are provided for the purpose
of presenting information about management's current expectations and
plans relating to the future and readers are cautioned that such
statements may not be appropriate for other purposes. These statements
may include, without limitation, statements regarding the operations,
business, financial condition, expected financial results, performance,
prospects, opportunities, priorities, targets, goals, ongoing
objectives, strategies and outlook of AIM for the current fiscal year
and subsequent periods. Forward-looking statements include statements
that are predictive in nature, depend upon or refer to future events or
conditions.
By its nature, this information is subject to inherent risks and
uncertainties that may be general or specific and which give rise to
the possibility that expectations, forecasts, predictions, projections
or conclusions will not prove to be accurate, that assumptions may not
be correct, that objectives, strategic goals and priorities will not be
achieved and/or that the plan of arrangement may not be completed. A
variety of material factors, many of which are beyond AIM's control,
affect operations, performance, achievements and results of AIM that
may be expressed or implied by such forward-looking statements and
could cause actual results to differ materially from current
expectations of estimated or anticipated events or results, or could
cause the plan of arrangement not to be completed. These factors
include, but are not limited to: general economic, industry and market
segment conditions; equipment and labour shortages and inflationary
costs; changes in applicable environmental, taxation and other laws and
regulations, as well as how such laws and regulations are interpreted
and enforced; changes in technology; operating risks, including risks
inherent in the ability to generate sufficient cash flow from
operations to meet current and future obligations; increased
competition; stock market volatility; ability to maintain current and
obtain additional financing; and management's success in anticipating
and managing the foregoing factors.
The reader is cautioned that the foregoing list of factors is not
exhaustive of the factors that may affect AIM's forward-looking
statements. The reader is also cautioned to consider these and other
factors, uncertainties and potential events carefully and not to put
undue reliance on forward-looking statements. Although the
forward-looking statements contained in this press release are based
upon what management of AIM currently believes to be reasonable
assumptions, actual results, performance or achievements could differ
materially from those expressed in, or implied by, this forward-looking
information and, accordingly, no assurance can be given that any of the
events anticipated by the forward-looking information will transpire or
occur (including the completion of the plan of arrangement), or if any
of them do so, what benefits will be derived therefrom. These
forward-looking statements are made as of the date of this release and,
other than as specifically required by law, AIM does not assume any
obligation to update or revise any forward-looking statement to reflect
events or circumstances after the date on which such statement is made,
or to reflect the occurrence of unanticipated events, whether as a
result of new information, future events or results, or otherwise.
THE TSX VENTURE EXCHANGE INC. HAS IN NO WAY APPROVED NOR DISAPPROVED THE
CONTENTS OF THIS PRESS RELEASE.
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p AIM Health Group Ltd.br/ Lu Barbuto, President & CEObr/ Greg Van Stavern, Chief Financial Officerbr/ Tel: (905) 475-3353 /p p Website: a href="http://www.aimhealthgroup.com"www.aimhealthgroup.com/a /p