Business
Premier Health Signs Agreement in Principle to Acquire Code Bleu Placement en Santé
Premier Health Signs Agreement in Principle to Acquire Code Bleu Placement en Santé ...
About this update from Premier Health Of America Inc
[{"type":"text","content":"\n\n\n\nPremier Health Signs Agreement in Principle to Acquire Code Bleu Placement en Santé\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTRÉAL, Aug. 4, 2020\n\n\n\nPremier Health of America Inc. (formerly Physinorth Acquisition Corporation Inc.)\n MONTRÉAL, Aug. 4, 2020 /CNW Telbec/ - Premier Health of America Inc. (formerly known as Physinorth Acquisition Corporation Inc.) (TSXV: PHA) (the \"Corporation\" or \"Premier Health\"), a leading Canadian Healthtech company, is pleased to announce that on August 3rd, 2020, it has entered into a share purchase agreement (the \"SPA\") to acquire 100% of the issued and outstanding shares of 9104-8306 Québec Inc. d.b.a Code Bleu Placement en Santé (\"Code Bleu\"), (the \"Transaction\"), as more fully detailed below. As a result of the Transaction, Code Bleu will become a wholly owned subsidiary of the Corporation, and the Corporation will continue the business of Code Bleu which consists in providing staffing services.\nCode Bleu is a prominent Quebec agency employing nurses, caregivers, dental staff and other health-related personnel. Code Bleu's mission is to offer its various public and private partners with quality, efficient and safe services provided by its highly qualified staff. Meeting the highest quality standards, rigor in hiring process, and personalized follow-ups have allowed Code Bleu to become one of the best industry actors in the province of Quebec. For the year ending December 31, 2019, Code Bleu generated revenues of approximately C$29.3M, an EBITDA of C$3.9M and a net income of C$2.8M, had total assets of C$5.6M, short-term liabilities of C$3.3M and no long-term liabilities. \n\"The acquisition of Code Bleu is a very important milestone for the company\" Said Martin Legault, CEO of Premier Health. \"First, Code Bleu is a well-regarded player in the industry with an impeccable track record and a strong brand, and second, this important acquisition provides us with the critical mass to expand our presence in other Canadia...