Prism Medical Announces Acquisition of Distributor of Moving and Handling Equipment and Services

Vaughan, ON, December 03, 2009 -- Prism Medical Ltd (TSX-V:PM) today announced that it has completed the acquisition of a UK distributor of moving and handling equipment and services for the mobility impaired effective Dec 1, 2009. The acquisition cost was $1.2m which was satisfied by a cash payment of $0.7m and deferred payments in the amount $0.5m. The deferred payments are repayable over 3 years together with interest at 7% over a term of 3 years.

The company supplies, installs, services and maintains a wide variety of equipment including ceiling lifts, floor lifts, stair lifts and through floor lifts into the home care and long term care channels.

The key management of the distributor have entered into employment contracts and will continue to be responsible for the day to day operations.

Andrew A. McIntyre, Chairman and CEO of Prism stated, “The acquisition continues our expansion into the provision of product and services for our customers in the UK.

The acquisition is expected to be accretive to earnings in the coming fiscal year and will increase our ability to provide high levels of customer service in the UK and strengthen Prism’s ability to execute its strategic plans.”

About Prism Medical Ltd:
Prism Medical Ltd. is a provider of durable medical equipment and related services to the mobility disadvantaged in Canada, the U.S. and the United Kingdom. While Prism's history dates back to 1996, Prism's subsidiaries and divisions have been servicing the mobility disadvantaged since the mid 1980's in their homes, long-term care facilities and acute care facilities. Prism includes Waverley Glen, North America's premiere ceiling lift manufacturer with distribution across Canada and the U.S., Patient Lifts of New England with distribution across the northeastern USA, Westholme and Care Free Lifting & Handling, leading distributors of moving and handling products in the U.K. and Freeway Health Care, a U.K.-based manufacturer of ceiling lifts and shower chairs.

Forward-looking Information:
Certain statements in this release may constitute forward-looking statements. Such forward-looking statements involve risks, uncertainties and other factors, which may cause actual results, performance or achievements of Prism to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.

For further information, please contact: William G. Edwards, Chief Financial Officer, Prism Medical Ltd.Tel: (416) 260-2145 (Ext. 230), wgedwards@prismmedicalltd.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
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Press Contact:
Andrew McIntyre
President, CEO and Chairman
Prism Medical Ltd
Vaughan, ON
Tel: (416) 260-2145 ext. 235
Fax: (416) 260-9195
prism@prismmedicalltd.com
http://www.prismmedicalltd.com