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Prism Medical Announces New UK Contracts with Anchor Trust

^{Published on 2011-08-17 14:11:56 - Market Wire}
 

TORONTO, Aug. 17, 2011 /CNW/ - Prism Medical Ltd. ("Prism Medical or "the Company") (TSXV: PM), a leading provider of durable medical equipment and related services to the mobility disadvantaged, today announced that the Company has been awarded two major contracts by Anchor Trust ("Anchor"), one of the UK's largest Care Home Groups.

The contracts were awarded to Prism UK Medical, the UK subsidiary of Prism Medical. The first awarded contract is for the supply and installation of assisted bathing equipment and the second contract is for the supply and installation of ceiling track hoists, mobile hoists, stand aids and slings. Both contracts include the service and repair of new and existing equipment within Anchor properties throughout England.   Anchor has approximately 100 Care Homes across England, with 85% of its homes being rated "good" or "excellent" by the Care Quality Commission.

The contracts commenced in July 2011 for a three-year term with the option to extend for two additional 12-month periods.  Prism UK Medical offers an extensive portfolio of moving, handling & bathing products, most of which are manufactured at the Company's two UK manufacturing sites. Prism UK Medical also has strategic partnership agreements with other companies which allow additional products to be offered. Prism UK Medical has one of the largest teams of experienced Installation/Service & Repair Engineers, operating from seven Regional Service Centres across the UK.

"This is another great achievement for our UK subsidiary, and builds upon a similar contract with the London Borough of Bexley which was awarded to Prism Medical earlier this year," said Andrew McIntyre, Chairman and Chief Executive Officer of Prism Medical.  "These new Anchor contracts further validate our strategic direction to provide both products and services."

"This is a significant win for Prism UK Medical and we are delighted to have been given this opportunity to work in partnership with Anchor to supply both products and the service and repair solutions," said Stuart Meldrum, Chief Executive Officer of Prism UK Medical. "We look forward to continuing our long and successful relationship with Anchor."

Sean Wheatley, Contracts Manager, Anchor Trust stated, "We are delighted to be working in partnership with the Westholme Division of Prism UK Medical and delivering the programme to meet the needs of our business; this means a quality product, and efficiencies which significantly reduces costs, together with service that is prompt, reliable and sensitive to our business needs."

About Anchor Trust
Anchor has more than 40 years of experience working with older people and providing residential care homes. Anchor's impressive range of services help older people maintain independence through care homes, sheltered housing, care in the home or home improvements. Working with almost 40,000 older people each week, Anchor aims to provide the best care and residential care homes in the UK. Anchor employs 10,000 trustworthy staff dedicated to improving the lives of older people.  For more information, visit [ www.anchor.org.uk ].

About Prism Medical Ltd.
Prism Medical Ltd. is one of the largest providers and manufacturers of durable medical equipment and related services to the mobility challenged in Canada, the US and the UK, with more than 100,000 installations and 200,000 product solutions sold. The Prism Medical brands include Waverley Glen and ErgoSafe, North America's leading supplier of lifting, handling and repositioning aid products and services across Canada and the US Freeway and Prism Service & Repair are leading suppliers of moving and handling products and services in the UK.  For further information visit  [ www.prismmedicalltd.com ].