TORONTO, June 24,
2024 /CNW/ - Richards Packaging Income Fund (TSX:
RPI.UN) (the "Fund") announces today, the acquisition through its
subsidiary Clarion Medical Technologies Inc. of all of the
outstanding shares of Insight Medical Technologies ("Insight
Medical"), a vision-care distributor based in Calgary that serves optometry and
ophthalmology clinics across Canada for a total purchase price of
$5.3 million funded from cash on
hand.
"We are pleased to announce the acquisition of Insight Medical
who have been a reliable partner in the vision-care industry for
over 20 years, with a high level of professionalism and expertise.
We are confident that we can support Insight's organic growth with
the power of the Clarion platform in the coming years.", commented
John Glynn, President of Richards
Packaging.
NewPoint Capital Partners acted as M&A advisor to the Fund
and AFD Investments Inc. acted as financial advisor to Insight
Medical.
About Richards Packaging Income
Fund
The Fund owns Richards Packaging Inc. ("Richards Packaging")
which since 1912 has served a wide customer base throughout
North America comprised of over
17,000 regional food, beverage, cosmetics, healthcare, and other
enterprises.
About Clarion Medical
Technologies
Clarion Medical Technologies is a leading Canadian provider of
medical and aesthetic equipment and consumables to hospitals,
aesthetic clinics and private medical practices. The company
specializes in aesthetic, otolaryngology, gynecology, urology and
vision applications with products and services offered that
include: laser technologies, diagnostic equipment, skincare, dermal
fillers, intra-ocular lenses, laser fibers, clinical education,
laser safety, technical support, and regulatory and marketing
services.
About Insight Medical
Technologies
Insight Medical Technologies is a leading Canadian provider of
vision-care equipment and consumables based in Calgary that serves optometry and
ophthalmology clinics across Canada.
SOURCE Richards Packaging Inc.