Calian Technologies Ltd. (TSX:CTY) has acquired a Burlington, Ont.-based company that operates 112 health clinics across the Loblaw Cos. Ltd. grocery chain.
The takeover of Primacy Management Inc. will be immediately accretive to Calian's earnings. The company has annual revenues of $3 million, Calian stated.
The price of the acquisition was not disclosed.
"This is a critical next step in Calian's health strategy, which encompasses a civilian healthcare footprint to augment our military offerings, strengthening our national medical practitioner network, and expanding our health service offerings to our clients," stated Kevin Ford, president of Calian's business and technology services division.
The technology services seller recently posted a 16-per-cent earnings increase in the first quarter of its fiscal year, to $3.6 million.