Transaction|January 6, 2006
Futuremed Healthcare Income Fund completes C$120 million initial public offering
Torys acted as counsel to the underwriters with a team in Toronto that included Jamie Scarlett, Glen Johnson, David Boyko and Joanna Jazairi (corporate and securities) and Corrado Cardarelli, Ron Nobrega and Andrea Shreeram (tax). Torys' New York team included Mark Adkins (corporate and securities) and Gregg Benson (tax).
On January 6, 2006, Futuremed Healthcare Income Fund completed an initial public offering of 12,035,614 trust units at a price of C$10 per unit for gross proceeds of C$120,356,140. The fund used the proceeds of the offering to indirectly acquire an approximate 90.3 percent in the business currently conducted through Futuremed Health Care Products Limited Partnership.
Futuremed is a leading Canadian distributor of consumable nursing supplies and specialized furniture and equipment to the long-term care facilities sector.
The offering was underwritten by a syndicate of underwriters led by CIBC World Markets and BMO Nesbitt Burns as bookrunners, and including RBC Dominion Securities, National Bank Financial, TD Securities, Dundee Securities and Sprott Securities.
Futuremed is a leading Canadian distributor of consumable nursing supplies and specialized furniture and equipment to the long-term care facilities sector.
The offering was underwritten by a syndicate of underwriters led by CIBC World Markets and BMO Nesbitt Burns as bookrunners, and including RBC Dominion Securities, National Bank Financial, TD Securities, Dundee Securities and Sprott Securities.