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Press Room
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SGF invests C$9.6 million in Logibec
SGF partners with a North American leader in the development and marketing of information systems for the North American health care sector
Montréal, December 11, 2007 – Société générale de financement du Québec (SGF) has acquired 490,000 common shares of Logibec Groupe Informatique Ltd. (TSX: LGI) at a cost of C$9.6 million as part of a private placement of 1,204,700 new shares issued by the company at a price of C$19.50. Logibec, whose head office is in Montréal, is one of the 10 largest Canadian companies specializing in the development, marketing, implementation and support of information systems for the health and social services sector.
SGF supports Logibec’s strategy of growth in the elder-care sector in the United States. Logibec recently announced the acquisition of Achieve Healthcare Technologies, its main competitor in the U.S. The transaction is in line with the strategy of development by acquisitions that Logibec has adopted in recent years. Achieve develops, markets and supports clinical and administrative software designed for seniors communities and residences in the United States. The acquisition positions Logibec as a major player, with a share of more than 10% of this market in the U.S.
SGF salutes the vision and expertise of Logibec’s executives. “We support Logibec’s strategy of acting as a consolidator in this rapidly growing area,” stated Pierre Shedleur, President and General Manager of SGF. “We’re proud to be associated with this well-managed company in its ongoing expansion.”
Logitech’s President and Chief Executive Officer Claude Roy welcomed the partnership with SGF. “We were delighted we could count on SGF’s support for our North American growth strategy. This support will help give us the tools we need to set ourselves apart in an extremely promising niche,” Mr. Roy stated.
ABOUT LOGIBEC
Logibec is among the 10 largest Canadian companies specializing in the development, marketing, implementation and support of information systems for the health and social services sector. Logibec serves more than 200 clients throughout Québec and the rest of Canada. Through its wholly owned subsidiary MDI Technologies Inc., Logibec also serves about 6,000 senior living communities and long-term care facilities throughout the United States. These services are delivered by an experienced team of 390 employees. The company has its head office in Montréal as well as offices in Québec City, Edmonton, Smithfield, Tampa, St. Louis and Minneapolis.
ABOUT SOCIÉTÉ GÉNÉRALE DE FINANCEMENT DU QUÉBEC
Société générale de financement du Québec (sgfqc.com), an industrial and financial holding company, has a mission to carry out economic development projects, with emphasis on the industrial sector, in co-operation with partners and on standard profitability conditions, in accordance with the economic development policy of the Québec government.
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Source:
Marie-Claude Lemieux
Senior Advisor
Communications and Media Relations
Société générale de financement du Québec
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