Birch Hill closes $50 mln acquisition of Centric Health assets

Canadian mid-market private equity firm Birch Hill Equity Partners has completed its buy of the Motion Specialties and MEDIchair retail and home medical operations of Centric Health Corp (TSX: CHH). The deal, first announced in June, was valued at $50 million. MEDIchair and Motion Specialties are providers of mobility, respiratory and home accessibility products in Canada. They operate through a network of 47 franchised and 30 corporate stores.

PRESS RELEASE

Birch Hill Equity Partners is pleased to announce its recent investment in MEDIchair and Motion Specialties

(Toronto, ON – September 12, 2014) – MEDIchair LP and Motion LP have completed the closing requirements and have acquired all of the assets of the Motion Specialties and MEDIchair retail and home medical operations from Centric Health Corporation (“Centric Health”) (TSX: CHH).

The businesses are the leading providers of mobility, respiratory and home accessibility products in Canada. Through a network of 47 franchised and 30 corporate stores, the outlets deliver comprehensive health care solutions to enhance customers’ quality of life increase their mobility, and provide them a safe and accessible home environment.

Thecla Sweeney, Partner at Birch Hill, said, “MEDIchair and Motion are two of Canada’s leading health care brands; they are home to some of the industry’s most experienced, knowledgeable, and passionate people, all with deep relationships in the communities they serve. We believe that working together, with not just management, but also the sales reps, store managers, franchisees and other staff, we can position MEDIchair and Motion to thrive in a fast growing industry.”

About Birch Hill Equity Partners
With $2 billion in capital under management, 20 partner companies and 33 fully realized investments since 1994, Birch Hill is the leader in long-term value creation in the Canadian mid-market. As a group, Birch Hill’s partner companies represent one of Canada’s largest corporate entities with over $4.7 billion in total revenue and more than 28,000 employees. For more information about Birch Hill Equity Partners, please visit www.birchhillequity.com.

Contact:
Pierre Schuurmans
COO
Birch Hill Equity Partners Management Inc.
(416) 775- 3830
www.birchhillequity.com

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