FOR IMMEDIATE RELEASE
FGIworld acquires the Non-Clinical divisions of Medcan Health Management Inc.
TORONTO - July 4, 2005 - FGIworld and Medcan Health Management today announced FGIworld's acquisition of Medcan's Occupational Health and Disability Management divisions.
Medcan's Occupational Health division helps employers recognize and establish programs to manage potential workplace health hazards. The Disability Management business specializes in short-term disability management and provides turn-key solutions for the management of integrated disability management programs.
"This important acquisition marks the beginning of a new phase in FGIworld's growth," said Allon Bross, Chairman and Chief Executive Officer of FGIworld. "As a global leader in workplace health, this acquisition will allow us to further help our clients achieve optimal organizational health and productivity and reinforce our commitment to redefining workplace health."
The divestiture also marks a significant milestone for Medcan.
"While the Occupational Health and Disability Management divisions of Medcan are a great business, this transaction will allow Medcan to focus on our core business - the Medcan Clinic," said Shaun Francis, President of Medcan Health Management. "The Medcan Clinic is now one of the largest of its kind in North America and is growing at an unprecedented rate. This sale will allow us to focus our attention and resources on this high-growth, high-potential business, providing even better service to our clients."
About FGIworld
FGIworld is a leader in Workplace Health & Wellness, Employee Assistance Programs, Absence Management & Prevention and Cross-Cultural Solutions. For more than 20 years, FGIworld has been helping organizations address their health and productivity issues by supporting the physical, mental and social health of their employees. FGIworld touches the lives of more than four million people, serving 2,200 companies in more than 100 countries around the world. FGIworld's integrated delivery of services continues to redefine workplace health.
www.fgiworld.com
About The Medcan Clinic
The Medcan Clinic is one of North America's leading providers of preventive medicine. Established in 1987 and headquartered in Toronto, Medcan offers an array of medical services including the Comprehensive Health Assessment - a four-hour head-to-toe evaluation of your state of health and strategies to improve your health. Medcan's client list includes over 1,000 Presidents and CEOs of Canadian, U.S. and multinational organizations. Medcan has strategic relationships with leading U.S. hospitals providing access to quality care across North America.
www.medcan.com
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For more information, please contact:
Moira Potter
Communications Specialists
FGIworld
905-886-2157 ext. 2300
mpotter@fgiworld.com
Dan Pawliw
Senior Vice President, Corporate Development
Medcan Health Management
416-350-5950
danpawliw@medcan.com
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