MONTREAL, QUEBEC — (Marketwired) — 12/19/14 — Logibec Inc., a leading provider of both administrative and clinical software solutions to the healthcare industry in Canada, announced today the signing of a definitive agreement whereby GI Partners (“GI”), a leading middle market private equity firm, will acquire Logibec from OMERS Private Equity. The transaction is expected to close in the first quarter of 2015.
With over 350 employees Logibec currently serves over 600 healthcare clients in Canada including some of the largest acute care facilities, long-term and community care providers across the country. The company is based in Montreal. Logibec will continue to operate under the same management team and without any changes in day-to-day operations. Product development and customer support will be delivered from our existing offices in Quebec, Ontario, Manitoba and British Columbia.
Howard Park, Managing Director at GI Partners, said, “The acquisition of Logibec leverages our deep industry experience gained through previous IT infrastructure and healthcare services investments. Logibec is a leader in its field, providing IT solutions that create greater efficiencies in the clinical and administrative management of healthcare facilities. We are excited to partner with the company–s talented management team to continue the company–s growth trajectory and deliver its solutions to a broader base of clients.”
“I–d like to thank OMERS Private Equity for their valued partnership over the past four and a half years. Their commitment and support of Logibec has been a key contributor to the Company–s success. We look forward to the next phase of the company–s growth and development and are very excited to be partnering with GI.” said Marc Brunet, President and Chief Executive Officer of Logibec. Brunet added, “We are the only healthcare IT company in Canada that can offer a broad portfolio of software solutions covering both the clinical and administrative needs of health organizations. We remain centrally focused on conveying a comprehensive approach to improving patient outcomes while reducing the overall costs of delivering care. GI Partners shares those values and we have a common vision for the future of Logibec.”
Dave Kreter, Vice President of GI Partners, said, “We have spent a significant amount of time looking for the right healthcare IT investment and have found it in Logibec. We will pursue various strategic initiatives to unlock that potential, such as introducing new product lines, expanding into new geographies, and executing add-on acquisitions, in order to drive meaningful value creation for our investors.”
About Logibec Inc.
Logibec is a leading Canadian healthcare IT Company, which offers clients unparalleled solutions and industry expertise to optimize processes in all domains of the healthcare industry. Logibec has been recognized and ranked in the Branham 300 Industry survey for 4 of the last 5 years as No. 1 Pure-Play Healthcare ICT Companies in Canada. With 30 years dedicated to the ever-evolving North American Healthcare market, Logibec–s software and information systems are aligned with current and future needs of the health and social services sector. For further information visit:
About GI Partners
Founded in 2001, GI Partners is a leading middle market private equity investment firm based in San Francisco. The firm currently manages over $11 billion in capital commitments through private equity and real estate strategies for recognized institutional investors, including some of the largest state and sovereign pension funds in North America, Europe, Australia, Asia, and the Middle East. GI Partners is active in a number of key sectors, including TMT, Healthcare Services, Retail & Leisure, and Financial & Real Estate Services. For more information on GI Partners and its entire portfolio, please visit .
About OMERS Private Equity Inc.
OMERS Private Equity (“OPE”) manages the private equity activities of OMERS and has over CAD$7 billion of investments under management. The group–s investment strategy includes the active ownership of businesses in North America and Europe. OPE is headquartered in Toronto, Canada, with offices in London and New York. For further information visit: .
About OMERS
OMERS is one of Canada–s largest pension funds with over CAD$65 billion in net assets. It provides first-class pension administration and innovative products and services to over 440,000 members. Approximately one in every 20 employees working in the province of Ontario is an OMERS member. Through the OMERS Worldwide brand, our team of investment professionals uses a direct drive, active management investment strategy to invest in public and private market assets, including publicly-traded equities, fixed-income, infrastructure, private equity and real estate.
Contacts:
Logibec Inc.
Marc P. Brunet
President and CEO
514-766-0134
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