Restructuring Yields Over $100 Million Value for Stakeholders
Industry: Laboratory—Medical
Company Profile: Med-Chem Health Care Limited was a leading Canadian diagnostic services business providing laboratory testing and
medical imaging services in Ontario. Tests include blood chemistry analysis, urinalysis, hematology, microbiology and drug and HIV screening.
Med-Chem was a publicly listed company, trading on the TSX.
NewPoint’s Role: As a result of actions of a secured creditor, Med-Chem sought protection under CCAA.
NewPoint was engaged as exclusive financial advisor by the Board of Directors of Med-Chem to assist with a financial restructuring
of the company. NewPoint officers sat on the Restructuring Committee and on the Board of Directors.
Transaction Snapshot: NewPoint played a key role in surfacing value within the company and the eventual sale of this
financially distressed company for more than $100 million, which exceeded the claims and expectations of all secured and unsecured creditors.
