Counsel Corporation to Enter New Health Care Segment of Hormone Dependent Disorders Through Sage BioPharma.TORONTO--(BUSINESS WIRE)--June 9, 1998--Allan Silber, Chairman and Chief Executive Officer of Counsel Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CXS CXS Coherent X-Ray Scattering .) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CXSNF) today announced a definitive agreement to acquire 65 percent of SAGE BioPharma, a private company to source and bring to market products to treat hormone-dependent disorders in male and female health. This company will become an important new division of Counsel Corporation. Counsel expects SAGE BioPharma to grow to be a major presence in this market segment through its initial venture in the important segment of infertility infertility, inability to conceive or carry a child to delivery. The term is usually limited to situations where the couple has had intercourse regularly for one year without using birth control. . Infertility disorders treatment is a very large market in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Over 3 million couples annually are expected to seek some level of medical attention for infertility. The total worldwide market for fertility hormones is estimated at $900 million to $1 billion. The North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. market exceeds $300 million today. It is a market with double-digit growth, and one currently with relatively few competitors. SAGE has an agreement in principal for the distribution in North America for the complete range of hormonal products used for the treatment of infertility. SAGE expects these products to be competitive and enable it to gain market share. SAGE also plans to grow through the acquisition of additional complementary products. Dr. James Posillico, founder of SAGE, will head the company as 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. and will maintain 35 percent of SAGE BioPharma. He brings highly-specialized expertise and research abilities to the Company from the nine years he spent with The Ares-Serono Group, based in Geneva Geneva, canton and city, Switzerland Geneva (jənē`və), Fr. Genève, canton (1990 pop. 373,019), 109 sq mi (282 sq km), SW Switzerland, surrounding the southwest tip of the Lake of Geneva. , Switzerland and Serono Laboratories in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . "I am very pleased with our new association with Counsel Corporation," said James Posillico. "It gives us the opportunity to grow as we benefit from the management expertise and resources of Counsel. We also look forward to working collaboratively with other Counsel Corporation companies." Allan Silber noted that, "SAGE BioPharma is an important acquisition for us and represents our increasing scope of activity in the U.S. health services health services Managed care The benefits covered under a health contract market. SAGE also forms a good fit with Stadtlanders infertility treatment expertise - Stadtlanders becomes a delivery and treatment management partner for the innovative therapies SAGE will bring to market. SAGE BioPharma will, of course, market its products widely to a broad range of treatment providers." SAGE BioPharma is an emerging women's healthcare company focused on the treatment of hormone dependent disorders. The Company's current commercial initiative is in the field of infertility with future plans to expand with initiatives in the hormone replacement market. The company plans to position itself in the market with a broad, integrated product line that can address both patient and physician needs and achieve significant improvements in treatment outcomes while reducing the overall cost of patient care. Counsel Corporation has been active in the healthcare sector since 1983. It is currently involved in three segments of the U.S. health care service industry: specialty retail pharmacy through 100 percent-owned Stadtlanders Pharmacy, home health care through 27 percent-owned American HomePatient Inc. (NASDAQ:AHOM), and institutional pharmacy through 9 percent-owned PharMerica, Inc.(NASDAQ:DOSE). This release involves forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. with respect to business plans, acquisition prospects, development of relationships with third parties and other plans and expectations on the part of the Company. The accuracy of these statements involve a number of risks and uncertainties, including but not limited to the availability of acquisition prospects and financing for such prospects, changing economic and market conditions that would impact such prospects or financing related thereto, changes in governmental reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. regulations and laws which could impair or hinder the entering into strategic alliances of preferred provider agreements, as well as other risk factors detailed in the securities filings of Counsel Corporation (NASDAQ:CXSNF) (TSE:CXS) to which recipients of this release are referred for additional information concerning the Company and its prospects.
CONTACT: Counsel Corporation
Morris Perlis, 416/866-3193
or
Susan Feldman, 416/866-3187
or
Stephen Weintraub, 416/866-3058
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