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Yellow Point Closes $7 Million Investment In Prism Medical

Vancouver, B.C. September 17, 2004 – Yellow Point Equity Partners LP (“Yellow Point”) and its associates announced today the closing of a $7 million investment in healthcare equipment company, Prism Medical Ltd. (“Prism”). Proceeds of the financing will be used by Prism to fund the cash portion of a $14.3 million acquisition of two UK-based medical equipment companies, Freeway Healthcare and Tricare Developments.

Prism, through its wholly owned subsidiaries Waverly Glen Systems Limited (“Waverly Glen”) and Westholme Limited (“Westholme”), designs, manufactures and sells products that safely and efficiently allow the mobility impaired to be lifted, repositioned, and transferred. Waverly Glen’s portable and fixed ceiling lift products are distributed in the homecare and institutional medical markets through specialized full service dealers across Canada and the U.S. and through Westholme, the largest distributor of moving and handling products in the UK.

“This acquisition and the corresponding financing come at a very exciting time for us,” said Andy McIntyre, CEO of Prism. “Prism has emerged as the clear leader in the rapidly growing market for lift products. The acquisition of Freeway and Tricare broadens our product line and increases our strong presence in the UK market. We are delighted to have Yellow Point as lead investor for this financing. The experience of Yellow Point’s partners, together with their collaborative approach, makes them an ideal long-term financial partner for Prism.”

“We are very pleased with the investment.” said Brian Begert, Managing Partner of Yellow Point. “We invest in companies that exhibit a combination of strong management, innovative products and growing markets. These qualities made Prism an attractive investment choice for Yellow Point.”

The total financing raised in the private placement was $11 million, with the majority of the remaining $4 million invested by senior officers and directors of Prism. The investment was made in the form of 8% convertible debentures with a term of 7 years.

Yellow Point Equity Partners is a private equity investment firm with significant operating and investment experience. It invests in outstanding management teams of later-stage growth companies based primarily in western Canada and aims to be the long-term partner of choice for Canada’s leading mid-market companies. Yellow Point’s approach is supportive, hands-off with respect to day-to-day operations and active when it comes to strategic decisions and board work.

For more information, please contact either Brian Begert or David Chapman, or visit