Toronto Stock Exchange Symbol: CLC.UN
MISSISSAUGA, ON, Aug. 17 /CNW/ - CML Healthcare Inc. and CML HealthCare Income Fund (the "Fund"), (TSX: CLC.UN) today announced that Mr. Waldemar Zimmerman, B.A., L.L.B., has been appointed Chairman of CML HealthCare's Board of Directors and the Fund's Board of Trustees. Dr. John Mull, M.D., FRCP(C), will remain on CML HealthCare's Board of Directors and the Fund's Board of Trustees as Founding Chairman.
"Mr. Zimmerman has been a long serving member of our Board of Directors and has acted as Lead Trustee, Vice-Chair and Chairman of the Compensation Committee for the Fund since 2004," said Dr. John Mull, Founding Chairman of CML HealthCare. "Waldemar's leadership, extensive business experience and corporate governance expertise have been invaluable to CML and we look forward to his continued guidance in the years ahead."
Mr. Zimmerman is the principal of Zimmerman Lawyers, Hamilton, Ontario. His areas of practice are concentrated in civil litigation (with emphasis on corporate, commercial and employment disputes including shareholder litigation involving all financial aspects of corporations) and appellate advocacy including before the Supreme Court of Canada. Mr. Zimmerman also serves as Vice-Chair and Lead Director of the Board of Directors of Cipher Pharmaceuticals Inc., originally the pharmaceutical division of CML HealthCare, as well as a director of a number of private corporations. He is a member of the Law Society of Upper Canada, Canadian Bar Association, the Hamilton Law Association, the Institute of Corporate Directors, the Canadian Club and former president of one of the major political parties in Ontario. Mr. Zimmerman received his B.A. from McMaster University in 1961 and his LL.B. from Osgoode Hall Law School in 1964.
Caution concerning forward-looking statements
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Statements made in this news release, other than those concerning historical financial information, may be forward-looking and therefore subject to various risks and uncertainties. Some forward-looking statements may be identified by words like "may", "will", "anticipate", "estimate", "expect", "intend", or "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on such statements, as actual results may differ materially from those expressed or implied in such statements. Factors that could cause results to vary include, but are not limited to: dependence on government-based revenues; pending and proposed legislative or regulatory developments including the impact of changes in laws, regulations and the enforcement thereof; intensifying competition from established competitors and new entrants in the businesses in which we operate; technological change; interest rate fluctuations and general economic conditions; insurance coverage of sufficient scope to satisfy any liability claims; fluctuations in operating results; dependence on our operating subsidiary to pay its interest obligations; fluctuations in cash distributions and capital investment; management of credit, market, liquidity and funding and operational risks; judicial judgments and legal proceedings; our ability to complete strategic acquisitions and to integrate our acquisitions successfully; changes in accounting policies and methods we use to report our financial condition, including uncertainties associated with critical accounting assumptions and estimates; operational and infrastructure risks including possible equipment failure and performance of information technology systems; fluctuations in total patient referrals; loss of services of key senior management personnel; other factors that may affect future growth and results including, timely development and introduction of new products and services; changes in our estimates relating to reserves and allowances; future sales of units; changes in tax laws; technological changes and obsolescence, natural disasters, the possible impact on our businesses from public health emergencies, international conflicts and other developments including those relating to terrorism; and our success in anticipating and managing the foregoing risks.
We caution that the foregoing list of factors is not exhaustive and that when reviewing our forward-looking statements, investors and others should refer to the "Risk Factors" section of the Fund's Annual Information Form, the "Business Risks" and other sections of our Management's Discussion and Analysis of Operating Results and Financial Position and our other periodic filings with Canadian securities regulatory authorities. All forward-looking statements presented herein should be considered in conjunction with such filings. The Fund does not undertake to update any forward-looking statements; such statements speak only as of the date made.
About CML HealthCare Income Fund
CML HealthCare Income Fund is an unincorporated open-ended trust that owns CML HealthCare Inc., one of Canada's largest healthcare services businesses. CML is a leading provider of laboratory testing services in Ontario and the largest private provider of medical imaging services in Canada. CML HealthCare Income Fund is publicly traded on the Toronto Stock Exchange under the symbol "CLC.UN" and has approximately 86.6 million units outstanding. To reach CML HealthCare Income Fund via the worldwide web log on to www.cmlhealthcare.com.
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