Chiropractic + Naturopathic Doctor

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Industry News – Physiomed acquisition announced


October 20, 2011
By Maria DiDanieli

Oct. 11, Toronto,
ON – Physiomed Group Inc., a leading health
services provider with over 40 clinics in Ontario
and Western Canada, today announced that the
Ontario Superior Court has approved its acquisition of Healthscreen Solutions
Inc.’s Physician Services business, effective as of October 13, 2011.

Through this acquisition Physiomed
takes ownership of the core programs from Healthscreen's Physician Services
business including its HealthAlert program (a service which allows patients to
more easily manage their long-term healthcare needs), its PrevCareMD program (a
service which helps physicians maximize government funded preventive care
bonuses), and its CallerMD program (a simple and effective billing system for
uninsured medical services). Physiomed also acquires all related assets,
including proprietary software, systems, intellectual property, and nearly
1,000 physician relationships.

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"This acquisition is about
improving overall efficiency and patient care for all parties involved –
including our over 40 Physiomed clinics and the nearly 1,000 medical doctor
practices who continue to engage in these valuable Physician Services",
says Dr. Scott Wilson, Chairman and CEO of Physiomed Group Inc. “Physicians can
rest assured they are now working with a well-capitalized, well-established
healthcare company dedicated to supporting their practices via a growing list
of value-add services. We look forward to working with all of Healthscreen’s
Physician Services customers for many years to come.”

Dr. Wilson continued.
"Physiomed is a well established company, with a skilled management team,
a solid balance sheet and stable infrastructure. We are dedicated to making
this transition a positive experience for everyone involved, and on behalf of
our 500 employees, we are very much looking forward to working with our
physician customers to help improve the overall quality of patient care in Canada."

For more information on Physiomed, including
clinic start-up for doctors of chiropractic, please visit www.physiomed.ca