Prism Medical agrees to be acquired by Handicare Group

On June 27, 2016, Prism Medical Ltd. ("Prism Medical") and Handicare Group AB ("Handicare") announced that they entered into an arrangement agreement pursuant to which Handicare will acquire all of the outstanding common shares of Prism Medical for a total equity purchase price of approximately C$62 million, on a fully diluted basis. Pursuant to the arrangement agreement, shareholders of Prism Medical will receive C$12.50 in cash for each Prism Medical share. The transaction will be carried out by way of a court approved plan of arrangement under the Business Corporations Act (Ontario) and will require the approval of, among others, (i) the holders of at least 66 2/3% of the Prism Medical shares, and (ii) a majority of minority shareholders, at a special meeting of Prism Medical shareholders, expected to be held before the end of August, 2016.

On August 4, 2016, Prism and Handicare announced an amendment to the previously announced arrangement, pursuant to which Handicare will now acquire all outstanding common shares of Prism for C$14.00 per share, increasing the total equity purchase price to approximately C$71 million.

The transaction is expected to close by early September 2016.

Prism Medical 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.

Handicare supplies technical aids for the elderly and physically disabled. Its products include stairlifts, transfer and lifting products, automobile adaptation solutions and homecare products.

Further information can be found on Marketwired's website.