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Cardinal Health Canada Inc. Receives Competition Bureau Clearance for Acquisition of Futuremed

Fri, 02/17/2012 - 2:34am
Bio-Medicine.Org

TORONTO, Feb. 16, 2012 /PRNewswire/ -- Futuremed Healthcare Products Corporation ("Futuremed") (TSX: FMD) and Cardinal Health Canada Inc. ("Cardinal Health Canada"), a wholly-owned subsidiary of Cardinal Health, Inc. (NYSE: CAH), announced today that the Competition  Bureau issued a 'no action letter' this morning regarding Cardinal Health Canada's proposed acquisition of all of the outstanding common shares ("Common Shares") of Futuremed for CAD $8.15 per Common Share in cash (the "Offer"), satisfying the competition condition of the Offer.

As of 9 a.m. on Feb. 16, 2012, 11,527,938 Common Shares have been tendered under the Offer, representing approximately 75.4% of the outstanding Common Shares (on a fully-diluted basis). The Offer is open for acceptance until 8:00 p.m. (Eastern time) on Feb. 16, 2012.  It is a condition of the Offer that there are validly deposited (and not withdrawn) at least 66 2/3% of the outstanding Common Shares (on a fully-diluted basis) at the time of expiry of the Offer.

CIBC Mellon Trust Company is the depositary for the Offer. Shareholders can obtain copies of the take-over bid circular and related materials at no charge from the depositary at 1-800-387-0825 or by email at inquiries@canstockta.com. The information agent for the Offer is Georgeson Inc. Inquiries should be directed to the information agent toll free at 1-866-856-4733. Additional copies of the take-over bid circular and related materials may also be obtained on request from the information agent.

About Cardinal Health Canada

Cardinal Health Canada is headquartered in Toronto, Canada, with seven distribution centers across the country. It distributes medical and surgical products to healthcare providers across the Canadian healthcare system. It is a wholly-owned subsidiary of Cardinal Health, Inc.

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