Alegro Health Corp. Completes Private Hospital Transaction.TORONTO -- Alegro Health Corp. (Alegro) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:AGO) is pleased to announce that, following the approval by the Ontario Ministry of Health and Long-Term Care of the transfer of all of the shares of Don Mills Surgical Unit Limited (DMSU DMSU Digital Main Switching Unit DMSU Divisional Mobile Support Unit DMSU Disaster Medical Support Unit ) to Alegro, Alegro has acquired all of the shares of DMSU. DMSU, a private Ontario corporation licensed by the Ministry to operate an accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. surgical facility in Toronto for the past four decades, provides a range of surgical procedures which include orthopaedic surgery, plastic surgery and ophthalmologic surgery. The surgical practice at the facility is supported by an inpatient capacity of 20 beds, 2 operating theatres and a pre and post operative preparation and recovery unit. It is expected that DMSU will continue to provide OHIP-insured and third party services to support the government in its efforts to enhance surgical services for the people of Ontario. In addition to approving the transfer of the shares of DMSU to Alegro, the Ministry also approved the appointment of Dr. William Orovan, a director of Alegro, to the position of Superintendent of the surgical facility. Dr. Orovan has been a member of the McMaster Faculty of Health Sciences The McMaster Faculty of Health Sciences is one of six faculties at McMaster University in Hamilton, Ontario, Canada. Established in 1966, it was the fifth medical school in Ontario. since 1981 and is currently a professor and Chair of the Department of Surgery at McMaster. He is a Fellow of the Royal College of Physicians and Surgeons of Canada The Royal College of Physicians and Surgeons of Canada, (RCPSC) is a national, private, nonprofit organization established in 1929 by a special Act of Parliament to oversee the medical education of specialists in Canada. (1980), and is a Fellow of the American College of Surgeons Fellow of the American College of Surgeons, often listed as "FACS", is a post-nominal title used to indicate that the surgeon's education and training, professional qualifications, surgical competence, and ethical conduct have passed a rigorous evaluation, and have been found to be . "We are very pleased that the Ontario Ministry of Health has approved the transfer of DMSU's shares to Alegro," commented Brenda Rasmussen, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Alegro. Ms. Rasmussen concluded, "With the completion of this transaction, we look forward to developing the potential that the DMSU private hospital operation represents." In connection with the closing of the transaction, the loan made by Alegro to the sole shareholder of DMSU in August 2004 (see Press Release of August 6, 2004) has been repaid in full. In addition, the long-term management agreement between DMSU and Alegro has been terminated, given that DMSU is now a wholly-owned subsidiary of Alegro. About Alegro Health Corp. Alegro Health Corp. is a Canadian healthcare service provider. The Company's focus is on private payer medical and health-related services. The Company is listed on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. under the symbol "AGO". Alegro cannot guarantee that any forward-looking statements contained in this news release will materialize. Nor is it possible for Alegro to commit itself to updating information about risks and other factors pertaining to its business that might appear in this or any other public disclosure documents. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release. Alegro Health Corp. (TSX VENTURE:AGO) |
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