Ergoresearch Announces Closing of Going Private Transaction

Posted on: 28 February 2018 in What's New

LAVAL, QC, Feb. 23, 2018 /CNW Telbec/ – Ergoresearch Ltd. (“ERG” or the “Corporation”) (TSXV: ERG), a Quebec-based company in the design and manufacturing of cutting edge technology for intelligent orthotics, medical devices and software in the orthopedic industry, is pleased to announce that the Corporation has closed its previously announced going private transaction (the “Transaction”) by amalgamating with a company controlled by Walter Capital Partners Inc. in partnership with Sylvain Boucher and Danielle Boucher (together, the “Management Shareholders”)

Pursuant to the Transaction, which was effected today under the Canada Business Corporations Act, shareholders (other than the Management Shareholders) received, for each common share of ERG held prior to the Transaction, one redeemable preferred share of the new corporation resulting from the Transaction and immediately after their issuance, each redeemable preferred share was redeemed for $0.30 in cash.

An application has been made to delist the common shares of the Corporation from the TSX Venture Exchange. It is expected that the common shares will be delisted on or about February 27, 2018 and an application has been made to cease to be a reporting issuer under applicable provincial securities laws.

About Ergoresearch

Ergoresearch is a Canadian company that designs and manufactures cutting edge technologies for the orthopedic industry. The Corporation is a trend-setter in creating custom orthotics and speciality orthotics for the orthopedics market and holds a portfolio of patents in the orthopedics field and in human bionics. The mission of our banner “Équilibre orthèses et biomécanique” is to keep people active and moving. “ÉQUILIBRE“, driven by its proprietary technologies and the expertise of its professionals, offers a range of products, treatments and services in order to relieve pain, restore motor function and optimize performance.

About Walter Capital Partners

Walter Capital Partners Inc. (“Walter Capital”) is a private equity firm and part of Walter Financial and the Walter Group. Walter Capital invests capital and know-how in established small and medium-sized businesses to help accelerate their growth. Drawing on the entrepreneurial values of the Walter Group and the business leadership expertise of its managing partners, Walter Capital offers solutions that are above and beyond purely financial transactions. Headquartered in Montreal, Walter Capital provides a solid international network.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Ergoresearch Ltd

For further information: Sylvain Boucher, President and CEO, Ergoresearch Ltd., Tel.: 450-973-6700, ext. 213, sboucher[*]ergoresearch.com

Ergoresearch Ltd. Shareholders Approve Going Private Transaction

Posted on: 19 February 2018 in What's New

LAVAL, QC, Feb. 16, 2018 /CNW Telbec/ – Ergoresearch Ltd. (the “Corporation”) (TSXV: ERG), a Quebec-based company in the design and manufacturing of cutting edge technology for intelligent orthotics, medical devices and software in the orthopedic industry, is pleased to announce that its shareholders have approved the previously-announced amalgamation (the “Amalgamation”) under the provisions of the Canada Business Corporations Act involving the Corporation and a wholly-owned subsidiary of 9332073 Canada Inc. (the “Purchaser”), pursuant to which all of the outstanding shares of the Corporation will be acquired by the Purchaser by way of amalgamation for $0.30 per share in cash.

The Continuance (as defined below) was approved by 87.8% of the votes cast by shareholders and the Amalgamation was approved by 87.4% of the votes cast by shareholders and by 81.6% of the votes cast by shareholders other than interested shareholders at the special meeting of shareholders of the Corporation held earlier today. Subject to the TSX Venture Exchange final approval and other customary closing conditions, the transactions contemplated are expected to close on or about February 23, 2018. As a condition to the completion of the Amalgamation, the Corporation continued its existence (the “Continuance”) today from the Business Corporations Act (Alberta) to the Canada Business Corporations Act.

About Ergoresearch Ltd.

The Corporation is a Canadian company that designs and manufactures cutting edge technologies for the orthopedic industry. The Corporation is a trend-setter in creating custom orthotics and speciality orthotics for the orthopedics market and holds a portfolio of patents in the orthopedics field and in human bionics. The mission of our banner “Équilibre orthèses et biomécanique” is to keep people active and moving. “ÉQUILIBRE”, driven by its proprietary technologies and the expertise of its professionals, offers a range of products, treatments and services in order to relieve pain, restore motor function and optimize performance.

Additional information on the Corporation can be found on the Corporation’s website at www.ergoresearch.com and on the SEDAR website at www.sedar.com.

About 9332073 Canada Inc.

9332073 Canada Inc. is a corporation controlled by Sylvain Boucher and Danielle Boucher in partnership with Walter Capital Partners Inc. (“Walter Capital”). Walter Capital is a private equity firm and part of Walter Financial and the Walter Group. Walter Capital invests capital and know-how in established small and medium-sized businesses to help accelerate their growth. Drawing on the entrepreneurial values of the Walter Group and the business leadership expertise of its Managing Partners, Walter Capital offers solutions that are above and beyond purely financial transactions. Headquartered in Montreal, Walter Capital provides a solid international network.

Forward‐Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “outlook”, “target”, “goal”, “guidance”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Such forward-looking information includes a statement relating to the anticipated timing of the completion of the proposed transaction. Forward-looking information is subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the failure of the parties to obtain the TSX Venture Exchange final approval or to otherwise satisfy the conditions to the completion of the transaction in a timely manner or at all. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and we do not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and we do not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

This announcement is for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell the Corporation’s common shares. All figures are in Canadian dollars, unless otherwise specified.

SOURCE Ergoresearch Ltd

For further information: Sylvain Boucher, President and Chief Executive Officer, Ergoresearch Ltd., Tel.: 450-973-6700, ext. 213, sboucher[*]ergoresearch.com

Ergoresearch reaches Agreement to Take Company Private for Cash Consideration of $0.30 per Share

Posted on: 11 January 2018 in What's New

LAVAL, QC, Jan 10, 2018 /CNW Telbec/ – Ergoresearch Ltd. (“ERG” or the “Corporation”) (TSXV: ERG), a Quebec-based company in the design and manufacturing of cutting edge technology for intelligent orthotics, medical devices and software in the orthopedic industry, has reached an agreement (the “Combination Agreement”) with a corporation (the “Purchaser”) controlled by Sylvain Boucher and Danielle Boucher (together, the “Management Shareholders”) in partnership with Walter Capital Partners Inc. (“Walter Capital”), pursuant to which all of the outstanding shares of the Corporation will be acquired by the Purchaser by way of amalgamation for $0.30 per share in cash (the “Transaction”).

“ERG has been pursuing a product development plan over the last several years, and Sylvain and Danielle Boucher have chosen Walter Capital as the partner that will best support the business plan and goal of providing customers with the most comprehensive suite of products and services,” Mr. Boucher said.

“The Transaction provides compelling value and liquidity to our shareholders” said François Tellier, Chairman of the Special Committee of ERG. “Our directors believe this is the best way to maximize value while providing the Corporation with partners who share our commitment to customers, employees and the markets we serve.”

Mr. Boucher will continue as President and CEO of ERG, which will continue to be headquartered in Laval. “I am proud of what our team has accomplished over the last few years, and I am excited about our prospects with Walter Capital as our chosen business partner,” Mr. Boucher said.

“Consistent with our investment philosophy of supporting entrepreneurs, we are excited to team with Sylvain and Danielle Boucher in helping the Corporation achieve its potential. We look forward to working with Sylvain and his team to support the execution of their development plan,” said Pierre Fitzgibbon, Managing Partner at Walter Capital.

The Transaction will be effected by way of an amalgamation of ERG and a wholly-owned subsidiary of the Purchaser under the Canada Business Corporations Act (the “Amalgamation”). Pursuant to the Amalgamation, shareholders (other than the Management Shareholders and dissenting shareholders, if any) will receive, for each common share of ERG held prior to the Amalgamation, one redeemable preferred share (“Amalco Redeemable Preferred Share”) of the new corporation resulting from the Amalgamation (“Amalco”) and immediately after their issuance, each Amalco Redeemable Preferred Share will be redeemed for $0.30 in cash. In connection with the Transaction, the stock option plan of ERG will be terminated and the option holders will receive a cash payment equal to the “in-the-money” value of their options.

The Management Shareholders, who collectively own or exercise control or direction over 17,544,000 common shares, representing approximately 24.3% of the issued and outstanding common shares of the Corporation, have agreed pursuant to a purchaser formation agreement to transfer, immediately prior to the Amalgamation, a number of common shares of the Corporation equal to 17,251,450 common shares, representing approximately 23.9% of the issued outstanding common shares of the Corporation to the Purchaser in exchange for shares of the Purchaser as part of the Amalgamation. The balance of their common shares, which are currently held by the respective RRSP account of the Management Shareholders, will be exchanged for Amalco Redeemable Preferred Shares.

The Amalgamation is subject to approval by the shareholders of ERG requiring the approval of (i) two‐thirds of the votes cast by holders of shares and (ii) a simple majority of the votes cast by shareholders other than Sylvain Boucher and Danielle Boucher and related parties. Further details of the Transaction will be described in the management proxy circular (the “Circular”) to be mailed to shareholders of the Corporation for a special meeting of shareholders of the Corporation to be held in the first quarter of 2018 (the “Meeting”). The Transaction is subject to customary closing conditions, including approval of the TSX Venture Exchange.

The $0.30 per‐share cash consideration represents a premium of 30.4% over the closing price of the shares on the TSX Venture Exchange on January 9, 2018, the last day of trading prior to the public announcement of the Transaction and over the volume‐weighted average price of the shares in the last 30 days of trading.

The partnership with Walter Capital is the result of a strategic review process. The Transaction was considered at length by the board of directors of ERG (the “Board”) and has been approved unanimously by the Board (with interested directors abstaining) following the favourable recommendation of the special committee of the Board (the “Special Committee”) and following consultation with the Corporation’s and Special Committee’s financial and legal advisors. The Board concluded that the Transaction is fair to the Shareholders other than the interested shareholders (the “Public Shareholders”), is in the best interest of the Corporation and its Public Shareholders and has authorized the submission of the Transaction to shareholders of the Corporation for their approval at the Meeting. The members of the Special Committee and the Board plan to vote all of their common shares in favour of the Transaction.

In making their respective determinations, the Board and the Special Committee considered, among other things, a fairness opinion (the “Fairness Opinion”) from Raymond Chabot Grant Thornton & Co. LLP (“RCGT”) to the effect that the price of $0.30 to be received by the shareholders under the Transaction is fair, from a financial point of view, to the Public Shareholders.

In connection with the Transaction, Sylvain and Danielle Boucher and Holding PROTEOR S.A. (“PROTEOR”), who hold in aggregate 33,709,683 common shares representing approximately 47.7% of the issued and outstanding common shares of the Corporation, have entered into voting and support agreements with the Purchaser (the “Voting Support Agreements”), pursuant to which they have agreed to vote all of their common shares in favour of the Transaction, subject to the right to terminate the Voting Support Agreements in certain circumstances, including, in the case of PROTEOR, the termination of the Combination Agreement.

Pursuant to the Combination Agreement, the Corporation has agreed not to solicit competing acquisition proposals for the Corporation, subject to customary “fiduciary out” provisions which entitle the Corporation to consider and accept a superior proposal, subject to the right of Walter Capital to match the superior proposal, and the payment to Walter Capital of a termination fee of $650,000.

A copy of the Combination Agreement, the Voting Support Agreements, the Circular and certain related documents will be filed with the Canadian Securities Administrators and may be viewed in due course on SEDAR at www.sedar.com.

Shareholders should consult their own tax and investment advisors with respect to the Transaction, details of which will be contained in the Circular.

About Ergoresearch Ltd.

Ergoresearch is a Canadian company that designs and manufactures cutting edge technologies for the orthopedic industry. The Corporation is a trend-setter in creating custom orthotics and speciality orthotics for the orthopedics market and holds a portfolio of patents in the orthopedics field and in human bionics. The mission of our banner “Équilibre orthèses et biomécanique” is to keep people active and moving. “ÉQUILIBRE”, driven by its proprietary technologies and the expertise of its professionals, offers a range of products, treatments and services in order to relieve pain, restore motor function and optimize performance.

Additional information on the Corporation can be found on the ERG website at www.ergoresearch.com and on the SEDAR website at www.sedar.com.

About Walter Capital Partners

Walter Capital Partners is a private equity firm and part of Walter Financial and the Walter Group. Walter Capital invests capital and know-how in established small and medium-sized businesses to help accelerate their growth. Drawing on the entrepreneurial values of the Walter Group and the business leadership expertise of its Managing Partners, Walter Capital offers solutions that are above and beyond purely financial transactions. Headquartered in Montreal, Walter Capital provides a solid international network.

Forward‐Looking Information

Forward-looking information is subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the failure of the parties to obtain the necessary shareholder approvals or to otherwise satisfy the conditions to the completion of the Transaction; failure of the parties to obtain such approvals or satisfy such conditions in a timely manner; significant Transaction costs or unknown liabilities; failure to realize the expected benefits of the Transaction; and general economic conditions. Failure of the parties to satisfy the conditions to the completion of the Transaction or to complete the Transaction, may result in the Transaction not being completed on the proposed terms, or at all. In addition, if the Transaction is not completed, and ERG continues as a publicly-traded entity, there are risks that the announcement of the proposed Transaction and the dedication of substantial resources of ERG to the completion of the Transaction could have an impact on its business and strategic relationships, operating results and activities in general, and could have a material adverse effect on its current and future operations, financial condition and prospects. Furthermore, the failure of ERG to comply with the terms of the Combination Agreement may, in certain circumstances, result in it being required to pay a fee to the Purchaser, the result of which could have a material adverse effect on its financial position and results of operations and its ability to fund growth prospects and current operations.

Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and we do not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

This announcement is for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell ERG common shares. All figures are in Canadian dollars, unless otherwise specified.

SOURCE Ergoresearch Ltd

For further information: Sylvain Boucher, President and CEO, Ergoresearch Ltd., Tel.: 450-973-6700, ext. 213, sboucher (*) ergoresearch.com

Ergoresearch announces its results for fiscal year 2017

Posted on: 30 October 2017 in What's New

TSX-V : ERG

LAVAL, QC, Oct. 27, 2017 /CNW Telbec/ – Ergoresearch Ltd (“Ergoresearch” or “the Company”) based in Laval and known under the «Équilibre, orthèses et biomécanique» banner – announces its results for the fiscal year ended June 30, 2017. All dollar amounts in the present release are in Canadian currency. The year 2017 was dedicated to improving the efficiency of the Company, forward research projects and launch complementary opportunities as well as laying out the foundations for future growth.

Revenues for the period ending June 30, 2017 amounted to $14 028 021 which represented a decrease of 2.1% compared to the same period last year. Revenues this year were negatively impacted by the strategic and planned closure of the “home care” division, the evolution of the market and changes in the organization of health care in Quebec.

Net results for the period were ($214 058) compared to $111 733 last year. This decrease in earnings is mainly related to the other items that generated a credit of $ 170,393 in fiscal year 2016, a tax expense of $ 64,092 resulting from a change in the provincial tax rate in 2017 and start-up costs incurred during the 2017 financial year:

These start up cost were to launch of new organic initiatives:

Sleep apnea services in some Equilibre clinics in Quebec
Dynamic knee analysis service, called “Kneegraphy” (Knee KG)
Recruitment and training of distributors outside Quebec for Ergoresearch’s flagship products

Cash flow from operating activities represented $887 612 compared to $694 301 last year.

Concerning the balance sheet, the Company reimbursed in full its long-term debt by paying amounts totalling $366 667 during the period. In addition, as was announced in November 2016, the Company redeemed for cancellation 225 000 common shares of its capital stock for a total amount of $51 625.

The Company still has a cash equivalent of more than $8 million that the Company plans to use over the next few years.

Mr. Sylvain Boucher, president and C.E.O. stated: the health care industry is in mutation and more specifically in Québec where the Company operates. The year 2017 saw the adoption of new legislation regarding accessory fees, a parliamentary commission on medical laboratories (Bill 118) and the launch of the «Super clinics» project. These major developments combined with high acquisition price expectations from potential sellers, all contributed to management’s decision to focus on complementary opportunities.

Hence, the Company signed agreements to open three new Equilibre laboratories within «Super-clinic» locations. These sites will open during the course of next year. Equilibre also launched its new apnea division known as « Apnée Equilibre » and integrated the « Knee KG » «kneegraphy» to its operations. Knee KG is one of the featured technologies presented at the Quebec government’s « Stratégie québécoise des sciences de la vie, 2017-2027 ». These complementary services are perfectly in line with Equilibre’s mission and benefit from the Company’s administrative and commercial platforms. It is expected that these activities will impact the short term profitability of the group. It is expected that the breaking point for each initiative will be reached between 18 to 24 months from their respective launch.

In its efforts to innovate, the Company presented two requests for patents in 2016 and 2017. The added value of its products supported by its technological platform, allowed the Company to sign a distribution agreement with a Canadian physiotherapy network. Investments were made in training programs and marketing tools to insure the success of these launches. Management expects positive results during the course of the next fiscal year. The Company is also seriously looking into distributing its products in the United-States.

Development and perspectives

Our current priorities and development plans include the following objectives:

Strengthened by our cash position, pursue the exploration of potential acquisitions or partnership in Quebec and across Canada.
Deploy the “Equilibre” brand in a multidisciplinary and interdisciplinary concept through the opening or designation of the super-clinics in Quebec.
Continue to develop the marketing of our technology platform and derivative orthotic related specialty products.
Continuing our investments in Research and Development (R&D)

Mr. Sylvain Boucher would like to thank all of our employees for their dedication and their ongoing desire to improve. Progress, the desire to excel and commitment are values that we all share, which reveals a bright future.

About Ergoresearch

Ergoresearch is a Canadian company that designs and manufactures cutting edge technologies for the orthopedic industry. The Company is a trend-setter in creating custom orthotics and speciality orthotics for the orthopedics market and holds a portfolio of patents in the orthopedics field and in human bionics. The mission of our banner “Équilibre orthèses et biomécanique” is to keep people active and moving. “ÉQUILIBRE“, driven by its proprietary technologies and the expertise of its professionals, offers a range of products, treatments and services in order to relieve pain, restore motor function and optimize performance.

This document is not intended to encourage the purchase of securities listed on the TSX Venture Exchange. TMX Group and its affiliates do not endorse or recommend any of the securities referenced here. Please seek professional advice to evaluate specific securities.

Forward-looking statements

Certain statements in this Press Release contain forward-looking statements and information that may entail certain risks related to uncertainties. Such statements are not historical facts and are based on current management’s expectations. We ask the reader to note that these statements are subject to a multitude of risks and uncertainties that could affect the potential future results, circumstances or events and may differ materially from those contained in the forward-looking statements. Such risk factors include, but are not limited to, those related to the Company’s ability to finance its activities, competition, ability to negotiate and maintain partnerships, the market acceptance of the Company’s product, the strength of intellectual property, the success of research and development programs, the trust invested in sub-contractors or their core personnel as well as other risks and uncertainties that are put forth every now and then by the Company in the documents filed with various Canadian securities and exchange commissions and made available at www.sedar.com.

The reader should not give great importance to forward-looking statements as (i) the results may differ from conclusions, predictions or projections contained in such forward-looking statements; and (ii) certain important factors or hypotheses taken into account in reaching conclusions or the preparation of a projection or prediction may prove to be incorrect in fact.

These statements are correct only on the date on which they were written, and Management disclaims any obligation to revise these statements after any event, circumstance or other situation, except as required by law. All figures are in Canadian dollars, unless otherwise specified.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Ergoresearch Ltd

For further information: Sylvain Boucher, President and CEO – Ergoresearch Ltd., Tel.: 450-973-6700, ext. 213, sboucher@ergoresearch.com

Ergoresearch announces the exclusive launch of the new plantar orthosis, “Chic!”

Posted on: 5 April 2017 in What's New

LAVAL, QC, April 5, 2017 /CNW Telbec/ – With the support of Ergoresearch Ltd (TSXV: ERG), the Équilibre banner—the largest network of orthotists and inhalotherapists in Quebec—is once again enhancing its offering with the exclusive launch of the new plantar orthosis “Chic!“.

With its thin and tapered special design, “Chic!” is made to be worn with high heels and dress shoes. “Even if they need the orthopedic support, many of our patients don’t wear their orthosis all of the time because it doesn’t fit in their more fashionable or dress-type shoes. Our research and development team came up with a solution, which means that wearing an orthosis is no longer limited by the type of shoes being worn”, explains Sylvain Boucher, president and CEO.Built with a new material that’s both waterproof and breathable, the “Chic!” orthosis is available in a range of fashionable designs. Patients can now be chic to the tips of their toes with one of the three limited-edition, spring-inspired patterns: polka dots, stripes, or floral.

“By responding to our clientele’s critical need for an orthosis that combines both comfort and fashion—and due to its unique market position, the “Chic!” orthosis allow us to stand out from the competition. Thanks to the input of our team of dedicated professionals, our patients will be able to maintain the right posture in all of their shoes”, adds Mr. Boucher. “What’s more, today’s launch is the result of our dedicated initiatives to constantly leverage technology to create new products that drive our leadership position within the industry.”

About Ergoresearch

Ergoresearch is a Canadian company that designs and manufactures cutting edge technologies and solutions for the orthopedic industry. The company is listed on the Toronto Stock Exchange and trades under the symbol “ERG”. With a portfolio of patents relating to orthopedics and human bionics, the company is a leader in the creation of custom-made orthotic devices. Ergoresearch has also developed the most influential network of orthotist clinics in Quebec, under the banner “Équilibre”, with over 70 clinics and points of service throughout Quebec.

About Équilibre

Équilibre—orthotic devices (“braces”) and biomechanics, is the largest network of orthotists in Quebec, which provides a host of biomechanic device solutions. Driven by wide-ranging innovation and the expertise of healthcare professionals, Équilibre’s mission is to get people moving by reducing pain, rehabilitating motor functions and optimizing performance. Thanks to its 70 clinics and points of service, Équilibre is now found in all corners of Quebec.

This communication does not aim to encourage the purchase of shares on the Toronto Stock Exchange. Neither TMX Group Limited nor any of its affiliated companies endorses or recommend the shares in question. Please obtain the advice of a specialist to evaluate specific shares.

Related links (photos and videos) : chic.equilibre.net / www.equilibre.net

SOURCE Ergoresearch Ltd

For further information: Sylvain Boucher, President and CEO – Ergoreseach Ltd, Tel: 450-973-6700, extension 213. sboucher@ergoresearch.com

Ergoresearch becomes the reference for the evaluation of knee pain in Quebec

Posted on: 10 March 2017 in What's New

LAVAL, QC, March 10, 2017 /CNW Telbec/ – With the support of Ergoresearch, Équilibre—the largest network of orthotists in Quebec, announces the adoption of the latest cutting-edge technology in the management of knee pain: KneeKG^TM, which expands the evaluation services it offers in its clinics and knee centres.

With the goal of providing an effective, personalized plan of treatment, Équilibre now provides complete and precise diagnostic evaluation services for the knee. This unique approach is made possible by KneeKG™ technology, which measures objective, standardized data while the patient is in movement. “KneeKG^TM represents a real revolution in the examination of the knee, as the precision of the technology permits the optimization of the plan of treatment. This means that the patient gains better quality of life and is able to be more mobile, which fully aligns with our mission”, says Sylvain Boucher, President and CEO of Ergoresearch.

The data gathered by KneeKG^TM provide the basis for an interdisciplinary approach with specialists from Équilibre (kinesiologists, physical readaptation technicians, orthotists), as well as the treating physician, physiotherapists, and other Quebec healthcare professionals.

KneeKG^TM was created in 2007 and is the result of 12 years of research at 3 universities in Quebec (École de Technologie Supérieure, centre de recherché du CHUM at Université de Montréal, and École Polytechnique) and the company Emovi. This system for the 3D analysis of anomalies of the knee received important support from the international medical community which benefits significantly from the new technology. In Quebec, Dr Pierre Ranger, orthopedic surgeon and chief of the orthopedic department at Jean-Talon hospital says: “The advantage of this technology is that it helps us diagnose problems of the knee and gives us relevant information to establish a plan of treatment and follow patients once they implement the plan.”

Emovi, the Quebec-based company that markets KneeKG^TM technology, is enthusiastic about the new partnership. “We are very pleased with our collaboration with Équilibre and its impressive network of clinics that will provide greater access to this examination tool throughout Quebec” mentions Alexandre Fuentes, vice-president for clinical affairs at Emovi.

A new program, “I’m taking care of my arthrosis”, which accompanies KneeKG^TMwill be spearheaded in Quebec by Ergoresearch who, while implementing the new technology, will also provide complete multidisciplinary care including therapist-supervised and personalized exercise programs.

This program is unique in Quebec and is grounded in the physical participation of each patient in their therapy. “We are proud to be able to contribute to the growth of Quebec-designed technology and to promote an interdisciplinary approach within our organization—and all this, with the goal of providing our patients with the best possible quality of life”, adds Mr. Boucher.

About Ergoresearch

About Équilibre

About Emovi

Emovi is a Quebec company that provides medical solutions for the knee articulation. With partners in university research centres throughout Quebec, including the CRCHUM and École de technologie supérieure (ÉTS),

Emovi developed KneeKG^TM which identifies biomechanical deficiencies that cause pain and disabilities.

This new technology has already provided relief to a large number of patients suffering from pathologies of the knee including arthrosis, meniscal tear and torn ligaments, patellofemoral syndrome, tendinitis, etc. KneeKG^TM is now available in Canada, the US, France, Switzerland, China and Australia.

SOURCE Ergoresearch Ltd

For further information: Sylvain Boucher, President and CEO – Ergoreseach Ltd, Tel: 450-973-6700, extension 213. sboucher@ergoresearch.com

Results for the second quarter of Fiscal year 2017 – Ergoresearch reports its results for the quarter ended December 31, 2016

Posted on: 28 February 2017 in What's New

LAVAL, QC, Feb. 28, 2017 /CNW Telbec/ – Ergoresearch Ltd (“Ergoresearch” or “the Company”) based in Laval and known under the «Équilibre, orthèses et biomécanique» banner – announces its results for the second quarter ended December 31, 2016. All dollar amounts in the present release are in Canadian currency.

Revenues reached $3,882,760 for the second quarter of Fiscal 2017 compared to $3,968,890 for the same quarter of Fiscal 2016. Excluding sales of the “home care” product line and discontinued since then, the Company would have posted sales growth on its flagship products. The recovery in recent quarters is continuing and the Company is positioning itself favorably with the evolution of the market.

The net profit for the quarter ending December 31, 2016 amounted to $7,328 compared to a net profit of $376 for the same quarter last year. This improvement in the result is related to efficiency gains that helped to reduce our selling and administrative expenses. Cash flow from operating activities amounted to $397,071 for the second quarter of Fiscal year 2017 compared to $902,368 for the same period last year.

Concerning the balance sheet, the Company paid its long-term debt and still has a cash equivalent of more than $8 million.

Lastly, the Company also took the opportunity during this quarter to expand its service offering in the province of Quebec. Therefore, effective this quarter, Ergoresearch will offer the sleep apnea service and the dynamic knee analysis service in some of its Equilibre laboratories in the province of Quebec. These additions will make it possible to optimize the available rental spaces and advantageously position Equilibre in the context of the reorganization of health care services in Québec.

Development and perspectives

Our current priorities and development plan include the following objectives:

Strengthened by our cash position, pursue the exploration of potential acquisitions or partnerships in Quebec and across Canada.
Deploy the “Equilibre” brand in a multidisciplinary and interdisciplinary concept through the opening or designation of the super-clinics in Quebec.
Continue to develop the marketing of our technology platform and derivative orthotic related specialty products.
Continuing our investments in Research and Development (R&D)

About Ergoresearch

Forward-looking statements

SOURCE Ergoresearch Ltd

For further information: Source: Sylvain Boucher, President and CEO – Ergoresearch Ltd., Tel.: 450-973-6700, ext. 213 / sboucher@ergoresearch.com

Ergoresearch maintains growth with new services in sleep care launched by its banner Équilibre

Posted on: 7 February 2017 in What's New

LAVAL, QC, Feb. 7, 2017 /CNW Telbec/ – Supported by Ergoresearch Ltd (TSXV: ERG), the Équilibre banner—the largest network of orthotists in Quebec—is expanding its offer to include the provision of services in sleep care. These new services build on the multidisciplinary offering from a group composed of orthotists-prosthetists, kinesiologists, and physical rehabilitation therapists, whose mission is to get people moving. “Thanks to a dedicated team of respiratory therapists and the latest technologies, we’re proud to provide top quality services that align with our corporate values. Sleeping well is the foundation of our wellbeing and we are pleased to be able to contribute to people’s health,” says Sylvain Boucher, President and CEO.

The new division, entitled “Apnée Équilibre“, is led by Annie Turcotte, a respiratory therapist with over 15 years of experience, whose team works in close collaboration with experienced pulmonologists. Services are currently available in 4 Quebec clinics—in Lévis, St-Nicolas, Loretteville and Ste-Foy, with plans to expand to the entire network, beginning with the region of Montreal, starting this spring.

The provision of services to provide sleep care is increasingly important; “Sleep disturbances affect more than 10% of the general population and remain under-diagnosed. We’ve identified an underserved need, which we believe will be an important source of growth,” adds Mr. Boucher.

About Ergoresearch

About Équilibre

SOURCE Ergoresearch Ltd

For further information: Sylvain Boucher, President and CEO – Ergoreseach Ltd, Tel: 450-973-6700, extension 213. sboucher@ergoresearch.com

Results for the first quarter of Fiscal year 2017 – Ergoresearch reports its results for the quarter ended September 30, 2016

Posted on: 28 November 2016 in What's New

LAVAL, QC, Nov. 28, 2016 /CNW Telbec/ – Ergoresearch Ltd (“Ergoresearch” or “the Company”) based in Laval and known under the «Équilibre, orthèses et biomécanique» banner – announces its results for the first quarter ended September 30, 2016. All dollar amounts in the present release are in Canadian currency.

The net profit for the quarter ending September 30, 2016 amounted to $204,193 compared to a net profit of $22,594 for the same quarter last year. The earnings before income taxes amounted to $204,193 for this quarter compared to $30,594 last year. Cash flow from operating activities amounted to $427,897 for the first quarter of Fiscal year 2017 compared to $(505,364) for the same period last year.

This improvement in the result is related to efficiency gains that have helped to improve our gross margin, reduce our supplying costs and reduce our selling and administrative expenses.

Revenues reached $3,414,452 for the first quarter of Fiscal 2017, a decrease of 3.4% from last year. After the decline in sales observed in the previous quarters, we noticed a recovery of the situation. The revenues were negatively affected by the discontinued sales of the “home care” product line, the evolution of the market, and changes in the organization of health care in Quebec.

Concerning the balance sheet, the Company paid its long-term debt and still has a cash equivalent of more than $8 million.

Ergoresearch announced on November 11, 2016, that it obtained the approval of the TSX Venture Exchange to proceed with a public offer share repurchase in the normal course of business. Thus, for the period of 12 months starting November 11, 2016 and ending November 10, 2017, Ergoresearch will be authorized to purchase for cancellation from time to time and as it deems fit, a maximum of 3,625,452 common shares, representing approximately 5% of the common shares issued and outstanding.

Development and perspectives

Our current priorities and development plans include the following objectives:

Strengthened by our cash position, pursue the exploration of potential acquisitions or partnership in Quebec and across Canada.
Deploy the “Equilibre” brand in a multidisciplinary and interdisciplinary concept through the opening or designation of the super-clinics in Quebec.
Continue to develop the marketing of our technology platform and derivative orthotic related specialty products.
Continuing our investments in Research and Development (R&D)

About Ergoresearch

Forward-looking statements

SOURCE Ergoresearch Ltd

For further information: Source: Sylvain Boucher, President and CEO – Ergoresearch Ltd., Tel.: 450-973-6700, ext. 213, sboucher@ergoresearch.com

Ergoresearch announces a Normal Course Issuer Bid

Posted on: 11 November 2016 in What's New

LAVAL, QC, Nov. 11, 2016 /CNW Telbec/ – Ergoresearch Ltd (“Ergoresearch” or “the Company”) announces that it has obtained approval from the TSX venture Exchange in order to proceed with a normal course issuer bid.

Therefore, for a twelve month period beginning on November 11 2016 and ending on November 10 2017, Ergoresearch will be authorized to acquire, from time to time and when it deems it appropriate, up to a maximum of 3,625,452 common shares, representing approximately 5% of the issued and outstanding shares as at November 11, 2016.

The common shares purchased will be cancelled.

As of November 11, 2016, Ergoresearch had 72,509,040 common shares issued and outstanding. The Company had purchased 3,813,633 common shares in the twelve month period that ended on November 10 2016.

Ergoresearch’s Board of Director considers that the acquisition of common shares in the course of this issuer bid may represent a sound use of the Corporation’s funds both for the Corporation and for its shareholders. Purchases will be made in accordance with TSX venture Exchange requirements, on the open market through the facilities of the Exchange. To the knowledge of the Company, no director, senior officer or other insider of Company currently intends to sell any common shares under this Bid.

As of today, Ergoresearch reports no significant changes in its business or its activities.

None of Ergoresearch’s directors or senior officers, nor any of their associates, nor any person acting jointly or in concert with Ergoresearch, or holding 10% or more of the shares of any class of shares of Ergoresearch, will receive any direct or indirect benefit as a result of this Normal Course Issuer Bid other than the benefits conferred upon all Ergoresearch shareholders.

GMP Securities LP, 145 King Street West, Toronto (Ontario) M5H 1J8, will act as member and broker in connection with this Bid.

The Normal Course Issuer Bid has been approved by the TSX Venture Exchange.

About Ergoresearch

Ergoresearch is a Canadian company that designs and manufactures cutting edge technologies for the orthopedic industry. The Corporation is a trend-setter in creating custom orthotics and speciality orthotics for the orthopedics market and holds a portfolio of patents in the orthopedics field and in human bionics. The mission of our banner “Équilibre orthèses et biomécanique” is to keep people active and moving. “ÉQUILIBRE“, driven by its proprietary technologies and the expertise of its professionals, offers a range of products, treatments and services in order to relieve pain, restore motor function and optimize performance.

Forward-looking statements

Certain statements in this Press Release contain forward-looking statements and information that may entail certain risks related to uncertainties. Such statements are based on management’s expectations and no assurance can be given that potential future results or circumstances described in the forward looking statements will be achieved or will occur, as these statements are subject to numerous uncertainties and risk factors. Such risk factors include, but are not limited to, those related to the Company’s ability to finance its activities, competition, ability to negotiate and maintain partnerships, the market acceptance of the Company’s product, the strength of intellectual property, the success of research and development programs, the trust invested in sub-contractors or their core personnel as well as other risks and uncertainties that are put forth every now and then by the Company in the documents filed with various Canadian securities and exchange commissions and made available at www.sedar.com.

SOURCE Ergoresearch Ltd

For further information: Sylvain Boucher, President and CEO – Ergoresearch Ltd., Tel.: 450-973-6700, ext. 213 / sboucher@ergoresearch.com