This agreement allows the exclusive distribution of products and services for hospital and long term care facilities in Alberta, Saskatchewan and Ontario, comprising approximately 50% of the Canadian market.
It will also extend the exclusive license to market certain homecare lift and transfer products under the Waverley Glen brand across Canada (excluding Quebec).
The renewal of this agreement confirms the positive relationship between Prism Medical and Shoppers Home Health Care. Over the past ten years, their partnership has been an example of success in Canadian product design, manufacturing, project management, sales and service.
"Shoppers Home Health Care was our first significant Canadian dealer. Together with our Waverley Glen business, we introduced ceiling lifts and leading edge teams to move and handle devices in our exclusive territories," said Andy McIntyre, Chairman and Chief Executive Officer of Prism.
"Their outstanding service philosophy demonstrates cost savings to healthcare providers and our continued partnership will allow consistent service to our customers. We are very proud to not only renew, but extend this agreement with Shoppers Home Health Care."
"This agreement is a strong confirmation of our dedication to our customers, who will continue to be well served by our outstanding team," added Scott Wilks, Vice President of Shoppers Home Health Care.
In addition to the new sales agreement, Prism will also acquire the assets of the Institutional Lifts business in the Greater Vancouver Area. This will be integrated into Angel Accessibility Inc.’s existing British Columbia business, which is a wholly owned subsidiary of Prism.
The purchase price for Institutional Lifts was based on the value of assets directly associated with the ongoing support of the business, plus the pledge of certain performance payments during the following three fiscal years.
Prism is a vertically integrated manufacturer and leading provider of equipment and services used to move and handle mobility challenged individuals in a safe and dignified manner.
Prism’s products are marketed under the brand names of Prism Medical, ErgoSafe, Waverly Glen and Nightingale in the homecare, acute care and long-term care markets throughout North America.
The company offers solutions that encourage improved care, quality of life and mobility, while seeking to lower the overall cost of the care giving function in a number of ways, including reducing the incidence of handling-related injuries among caregivers.
In addition, the Company through its network of Nightingale dealers provides an integrated suite of products and services that make home care a viable option for many people.
