TORONTO, March 1, 2022 /CNW/ - Andlauer Healthcare Group
Inc. (TSX: AND) ("AHG" or the "Company") today
announced that it has closed its previously announced acquisition
(the "Acquisition") of 100% of Logistics Support Unit
(LSU) Inc. ("LSU").
The purchase price for LSU was
approximately $30 million (subject to
customary purchase price adjustments) and was satisfied through the
issuance of 154,639 subordinate voting shares and cash of
approximately $22.5 million. AHG
financed the cash portion of the purchase price for the Acquisition
through a combination of cash on hand and by drawing on the
Company's credit facilities.
Established in 2008, LSU is a
third-party logistics provider offering specialty pharmacy,
warehousing, distribution and order management services throughout
Canada to national and
international companies as well as government clients in the
pharmaceutical, medical and biotechnology sectors. LSU is also the exclusive distributor of immunizing
agents for the Québec public health system.
"We are thrilled to officially be welcoming the LSU team to Andlauer Healthcare Group", stated
Michael Andlauer, Chief Executive
Officer of AHG.
"We're proud to be joining the Andlauer team," stated
Johanne Bissonnette, President of
LSU. "We look forward to continued
growth as a new member of the highly regarded AHG platform."
Advisors
Goodmans LLP acted as legal counsel to AHG, and JGW
Business and Tax Law Inc. acted as legal counsel to LSU
About LSU
LSU is a first class provider of
third-party logistics ("3PL") services exclusively for the
pharmaceutical, medical and biotechnology sectors and is also an
exclusive distributor of immunizing agents for the Québec public
health system. LSU's mission is to
integrate optimal logistical solutions by providing expertise and
quality services in the areas of customer service, warehousing and
distribution, tailored to the needs of every client. For more
information on LSU, please visit:
http://www.logisticslsu.com
About AHG
AHG is a leading and growing supply chain management company
offering a robust platform of customized 3PL and specialized
transportation solutions for the healthcare sector. The Company's
3PL services include customized logistics, distribution and
packaging solutions for healthcare manufacturers across
Canada. AHG's specialized
transportation services in Canada,
including air freight forwarding, ground transportation, dedicated
delivery and last mile services, provide a one-stop shop for
clients' healthcare transportation needs. Through its complementary
service offerings, available across a coast-to-coast distribution
network, AHG strives to accommodate the full range of its clients'
specialized supply chain needs on an integrated and efficient
basis. The Company also provides specialized ground transportation
services, primarily to the healthcare sector, across the 48
contiguous U.S. states. For more information on AHG, please visit:
www.andlauerhealthcare.com
Forward Looking Information
This press release contains "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
information") within the meaning of applicable securities laws,
including statements regarding the anticipated benefits of the
Acquisition. In some cases, forward-looking information can be
identified by the use of forward-looking terminology such as
"plans", "targets", "expects", "is expected", "an opportunity
exists", "budget", "scheduled", "estimates", "outlook",
"forecasts", "projection", "prospects", "strategy", "intends",
"anticipates", "believes", or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "might" or, "will", "occur" or "be achieved", and
similar words or the negative of these terms and similar
terminology. In addition, any statements that refer to
expectations, intentions, projections or other characterizations of
future events or circumstances contain forward-looking
information.
Statements containing forward-looking information are not
historical facts but instead represent management's expectations,
estimates and projections regarding future events or circumstances.
This forward-looking information is based on our opinions,
estimates and assumptions that, while considered by the Company to
be appropriate and reasonable as of the date of this press release,
are subject to known and unknown risks, uncertainties, and other
factors that may cause the actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking information, including
but not limited to: the risk that the acquired company will not
perform in accordance with expectations and past history; the risk
that the acquired company may not be efficiently integrated or that
synergies will not be realized; and those other risks discussed in
greater detail under the "Risk Factors" section of our Annual
Information Form which is available under our profile on SEDAR at
www.sedar.com. If any of these risks or uncertainties materialize,
or if the opinions, estimates or assumptions underlying the
forward-looking information prove incorrect, actual results or
future events might vary materially from those anticipated in the
forward-looking information. Although we have attempted to identify
important risk factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other risk factors not presently known to us or that
we presently believe are not material that could also cause actual
results or future events to differ materially from those expressed
in such forward-looking information.
There can be no assurance that forward-looking statements
will prove to be accurate as actual outcomes and results may differ
materially from those expressed in these forward-looking
statements. Readers, therefore, should not place undue reliance on
any such forward-looking statements. Further, these forward-looking
statements are made as of the date of this news release and, except
as expressly required by applicable law, AHG assumes no obligation
to publicly update or revise any forward-looking statement, whether
as a result of new information, future events or otherwise.
All of the forward-looking information contained in this
press release is expressly qualified by the foregoing cautionary
statements.
SOURCE Andlauer Healthcare Group Inc.