TORONTO, Nov. 25, 2011 /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), reported on developments in the Competition Bureau's review of Cardinal Health Canada's proposed acquisition of Futuremed under the Canadian Competition Act.
Cardinal Health Canada and Futuremed filed pre-merger notification filings with the Competition Bureau in respect of the proposed acquisition, and recently received Supplemental Information Requests for additional information required by the Competition Bureau to complete its review of the proposed acquisition. The Supplemental Information Requests were not unexpected and Futuremed and Cardinal Health Canada will continue to work with the Competition Bureau through its ongoing review.
Cardinal Health Canada's offer remains subject to the satisfaction of the conditions detailed in its offer, including a minimum of 66 2/3% of the outstanding common shares of Futuremed being deposited to the offer and regulatory approval under the Competition Act. Further details of Cardinal Health Canada's offer are available in its offer and circular and in Futuremed's directors' circular, each dated November 14, 2011, which have been sent to Futuremed's shareholders and filed on SEDAR at www.sedar.com.
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.