CML HealthCare Income Fund (the "Fund" or "CML HealthCare"), (TSX: CLC.UN) today announced that its operating subsidiary, CML HealthCare Inc. ("CML") has entered into definitive agreements to acquire two medical imaging operations comprising six centers located in the Northeast United States. These medical imaging operations include: i) The Imaging Institute ("TII") in Providence, Rhode Island; and ii) The Quarry Lake Imaging Centre ("Quarry Lake") in Baltimore, Maryland. The Quarry Lake acquisition closed on July 31, 2009, and TII is expected to close in the fourth quarter of 2009. The acquisitions are expected to be immediately accretive to the Fund's distributable cash(1) on a per unit basis.
In addition to these acquisitions, CML has entered into a joint venture agreement with Upper Chesapeake Health System ("UCHS") to operate a multi-modality medical imaging center in Bel Air, Maryland. This new facility was opened on August 8, 2009.