Latest news with #MichaelAndlauer
Cision Canada
31-07-2025
- Business
- Cision Canada
Andlauer Healthcare Group Reports 2025 Second Quarter Results
TORONTO, /CNW/ - Andlauer Healthcare Group Inc. (TSX: AND) ("AHG" or the "Company") today reported its financial results for the three and six-month periods ended June 30, 2025 ("Q2 2025" and "YTD 2025", respectively). Q2 2025 Summary Revenue totaled $156.6 million, compared to $161.4 million for the three-month period ended June 30, 2024 ("Q2 2024"); Operating income was $18.9 million, compared to $22.2 million in Q2 2024; Net income was $13.5 million, compared to $15.7 million in Q2 2024; EBITDA¹ totaled $38.1 million, compared to $40.1 million in Q2 2024; EBITDA Margin¹ was 24.3%, compared to 24.8% in Q2 2024 On April 23, 2025, AHG entered into a definitive arrangement agreement (the "Arrangement Agreement") with affiliates of UPS (NYSE: UPS) (collectively, "UPS") under which UPS has agreed to acquire AHG via an all-cash transaction that values AHG at an equity value of approximately $2.2 billion (the "Transaction"). Under the terms of the Arrangement Agreement, shareholders of AHG will be entitled to receive C$55.00 per share in cash in connection with the closing of the Transaction; On June 24, 2025, AHG shareholders voted overwhelmingly in favour of a resolution to approve the Transaction; and on June 26, 2025, the Ontario Superior Court of Justice (Commercial List) issued a final order approving the Transaction; The Company expects the Transaction to be completed in the second half of this year, subject to receipt of approval under the Competition Act (Canada), which process remains ongoing, and the satisfaction or waiver of the other customary closing conditions. All other regulatory clearances and approvals required to consummate the Transaction have been obtained. "Our results for the quarter reflect continued organic growth in our Canadian specialized transportation network and logistics and distribution product line, offset by continued challenges in our US-based truckload businesses and one-time costs associated with the Transaction. Our EBITDA margin for quarter remained within our target range of 24% to 26%," said Michael Andlauer, Chief Executive Officer of AHG. Selected Consolidated Financial Summary Three months ended June 30, Six months ended June 30, ($CAD 000s, except per share amounts) 2025 2024 Variance 2025 2024 Variance Revenue Logistics and distribution 40,888 39,463 3.6 % 83,447 77,381 7.8 % Packaging solutions 687 4,786 (85.7) % 4,766 9,728 (51.0) % Healthcare Logistics segment 41,575 44,249 (6.0) % 88,213 87,109 1.3 % Ground transportation 103,210 105,006 (1.7) % 211,685 211,394 0.1 % Air freight forwarding 8,205 7,918 3.6 % 16,567 15,913 4.1 % Dedicated and last mile delivery 19,054 18,329 4.0 % 37,857 36,074 4.9 % Intersegment revenue (15,442) (14,056) 9.9 % (31,632) (27,906) 13.4 % Specialized Transportation segment 115,027 117,197 (1.9) % 234,477 235,475 (0.4) % Total revenue 156,602 161,446 (3.0) % 322,690 322,584 0.0 % Operating expenses 137,725 139,271 (1.1) % 282,247 279,166 1.1 % Operating income 18,877 22,175 (14.9) % 40,443 43,418 (6.9) % Gain on deconsolidation of subsidiary 126 - N/A 5,146 - N/A Share of profit from equity-accounted joint venture, net of tax 511 - N/A 803 - N/A Net income 13,450 15,731 (14.5) % 33,675 30,654 9.9 % Foreign currency translation adjustment (12,046) 2,336 N/A (12,258) 7,873 N/A Total comprehensive income 1,404 18,067 (92.2) % 21,417 38,527 (44.4) % Earnings per share – basic $ 0.34 $ 0.38 ($ 0.04) $ 0.86 $ 0.74 $0.12 Earnings per share – diluted $ 0.34 $ 0.38 ($ 0.04) $ 0.85 $ 0.73 $0.12 Earnings per share – basic, excluding gain on deconsolidation of subsidiary $ 0.34 $ 0.38 ($ 0.04) $ 0.73 $ 0.74 ($0.01) Earnings per share – diluted, excluding gain on deconsolidation of subsidiary $ 0.33 $ 0.38 ($ 0.05) $ 0.72 $ 0.73 ($0.01) Select financial metrics EBITDA¹ 38,105 40,081 (4.9) % 83,123 79,673 4.3 % EBITDA Margin¹ 24.3 % 24.8 % (50) bps 25.8 % 24.7 % 110 bps EBITDA 1, excluding gain on deconsolidation of subsidiary 37,979 40,081 (5.2) % 77,977 79,673 (2.1) % EBITDA Margin 1, excluding gain on deconsolidation of subsidiary 24.3 % 24.8 % (50) bps 24.2 % 24.7 % (50) bps Q2 2025 Financial Results Consolidated revenue for Q2 2025 decreased by 3.0% to $156.6 million, compared with $161.4 million in Q2 2024. The decrease was primarily attributable to a decline in fuel surcharge revenue, continued challenges in the Company's US-based truckload businesses (Boyle Transportation and Skelton USA) and the deconsolidation of Nova Pack, as discussed below. Revenue for the healthcare logistics segment totaled $41.6 million, a decrease of 6.0% compared with $44.2 million in Q2 2024. The decline was attributable to the deconsolidation of AHG's packaging subsidiary, Nova Pack, which resulted in a 85.6% decline in packaging revenue. Effective March 1, 2025, AHG entered into a joint venture (the "Joint Venture") to combine its packaging subsidiary, Nova Pack Ltd. ("Nova Pack"), with NowPac Inc. ("NowPac"), a privately-owned Toronto-based company specializing in contract packaging services for the healthcare sector. The decline in packaging revenue was partially offset by a 3.6% increase in logistics and distribution revenue compared to Q2 2024, primarily reflecting organic growth from Logistics Support Unit (LSU) Inc. ("LSU") clients. Revenue in the specialized transportation segment totaled $115.0 million, a decrease of 1.9% compared with $117.2 million in Q2 2024. Ground transportation revenue for Q2 2025 was $103.2 million, a decrease of 1.9% compared with Q2 2024, reflecting reduced revenue from fuel surcharges passed on to customers as a component of the Company's pricing and a decline in revenue for AHG's US-based truckload businesses, partially offset by organic growth in the Company's Canadian ground transportation network. Average fuel prices were approximately 12.4% lower in Q2 2025 compared with Q2 2024. Ground transportation revenue, excluding fuel, in the Company's Canadian network increased by approximately 6.3% in Q2 2025 compared to Q2 2024. Ground transportation revenue, excluding fuel, in the Company's US-based truckload businesses decreased by 15.8% in Q2 2025 compared to Q2 2024. Air freight forwarding revenue totaled $8.2 million for Q2 2025, an increase of 3.6% compared to Q2 2024, and dedicated and last mile delivery revenue totaled $19.1 million, an increase of 4.0% compared to Q2 2024, reflecting continued organic growth in both product lines. Cost of transportation and services was $78.2 million, or 50.0% of revenue, compared with $80.9 million, or 50.1% of revenue, for Q2 2024. The decline was primarily attributable to lower fuel costs in Q2 2025 and a lower volume of truckloads in the Company's US-based truckload businesses, partially offset by costs attributable to organic growth in the Canadian network. Direct operating expenses were $24.6 million, or 15.7% of revenue, compared with $26.6 million, or 16.5% of revenue, for Q2 2024. The decline was primarily attributable to the deconsolidation of Nova Pack, as discussed above, partially offset by organic growth in AHG's logistics and distribution product line. Selling, General and Administrative Expenses were $16.9 million, or 10.8% of revenue, compared to $14.2 million, or 8.8% of revenue, for Q2 2024. The increase was attributable to increased legal and professional fees in connection with the Transaction. Operating income was $18.9 million, a decrease of 14.9% compared with $22.2 million for Q2 2024. The decline was primarily attributable to increased legal and professional fees in connection with the Transaction, and the deconsolidation of Nova Pack. Organic growth in AHG's Canadian specialized transportation network continues to be largely offset by lower contributions from the Company's US-based truckload businesses. Effective March 1, 2025, Accuristix Inc., a subsidiary of AHG, entered into the Joint Venture to combine its packaging subsidiary, Nova Pack, with NowPac. As partial consideration for Nova Pack acquiring 100% of the issued and outstanding shares of NowPac, Nova Pack issued shares to the shareholder of NowPac (the "JV Partner"), resulting in the JV Partner and Accuristix each owning 50% of the issued and outstanding shares of the Joint Venture. The remainder of the consideration was satisfied with cash of $5.5 million, which was funded from $6.1 million of cash and cash equivalents that remained in Nova Pack prior to deconsolidation. Accuristix recorded its investment in the Joint Venture at a fair value of approximately $15.2 million, and recognized a gain of $5.1 million on the deconsolidation of its investment in Nova Pack upon entering into the Joint Venture. The transaction date fair value and related gain on deconsolidation were measured on a preliminary basis as at March 1, 2025, and were finalized during Q2 2025 resulting in an increase of $0.1 million in the gain on deconsolidation and a similar increase in the fair value of AHG's investment in the Joint Venture. Net income for Q2 2025 was $13.5 million, or $0.34 per share (diluted), compared with $15.7 million, or $0.38 per share (diluted), in Q2 2024. The decrease is primarily attributable to increased legal and professional fees in connection with the Transaction. Segment net income for AHG's healthcare logistics operating segment primarily reflects increased revenue from the Company's LSU clients and AHG's share of profit from the Joint Venture, partially offset by the decrease in net income attributable to deconsolidating Nova Pack. Lower segment net income before eliminations for AHG's specialized transportation segment was primarily attributable to lower contributions from Boyle Transportation and Skelton USA, largely offset by organic growth in the Company's Canadian specialized transportation business. Total comprehensive income for Q2 2025 was $1.4 million, compared to $18.1 million for Q2 2024. Total comprehensive income differs from net income due to the acquisition of foreign operations (Boyle Transportation and Skelton USA), which resulted in a negative foreign currency translation adjustment of $12.0 million in Q2 2025, compared to a positive foreign currency translation adjustment of $2.3 million in Q2 2024. Earnings before interest, taxes, depreciation and amortization ("EBITDA")¹ for Q2 2025 totaled $38.1 million, a decrease of 4.9% from $40.1 million in Q2 2024. EBITDA¹, excluding the gain on deconsolidation of Nova Pack, was $38.0 million in Q2 2025. The decrease was due to the factors discussed above and primarily reflects increased legal and professional fees in connection with the Transaction, and organic growth in the Company's Canadian specialized transportation network and healthcare logistics segment, largely offset by lower contributions from AHG's US-based truckload businesses. EBITDA¹ attributable to Boyle Transportation and Skelton USA was approximately $0.4 million lower in Q2 2025 compared to Q2 2024. EBITDA Margin¹, excluding the gain on deconsolidation of Nova Pack, for Q2 2025 was 24.3% compared with 24.8% for Q2 2024. The decrease was primarily attributable to increased legal and professional fees in connection with the Transaction. EBITDA Margins¹ in AHG's US-based truckload business, which have steadily declined since Fiscal 2022, remained relatively unchanged in Q2 2025 compared with Q2 2024. Dividend The Company paid a dividend (encompassing the period from April 1, 2025 to June 30, 2025) in the amount of $0.12 per subordinate voting share and multiple voting share on July 15, 2025. Subject to financial results, capital requirements, available cash flow, corporate law requirements and any other factors that AHG's Board of Directors may consider relevant, it is the Company's intention to declare a quarterly dividend of $0.12 per subordinate voting share and multiple voting share on an ongoing basis until the closing of the Transaction. Shares Outstanding On July 2, 2024, the Company commenced its second normal course issuer bid ("2024 NCIB") for up to a maximum of 1,770,429 of its subordinate voting shares, or approximately 10% of its public float as of June 26, 2024, over the following 12-month period. As of June 30, 2025, a total of 374,034 subordinate voting shares, including 34,800 subordinate voting shares during Q2 2025, had been purchased and cancelled pursuant to the 2024 NCIB. As a result of the announcement of the Transaction, the Company's previously announced automatic share purchase plan established in connection with 2024 NCIB has terminated in accordance with its terms. The Transaction restricted any further purchases under the Company's current normal course issuer bid, which formally terminated on July 1, 2025. As at June 30, 2025, there were 18,342,254 subordinate voting shares and 20,807,955 multiple voting shares issued and outstanding. Financial Statements AHG's unaudited interim consolidated financial statements and related Management's Discussion & Analysis ("MD&A") for Q2 2025 are available on the Company's website at and under AHG's profile on SEDAR+ at About AHG AHG is a leading and growing supply chain management company offering a robust platform of customized third-party logistics ("3PL") and specialized transportation solutions for the healthcare sector. The Company's 3PL services include customized logistics, distribution and packaging solutions for healthcare manufacturers across Canada. AHG's specialized transportation services in Canada, including air freight forwarding, ground transportation, dedicated delivery and last mile services, provide a one-stop shop for clients' healthcare transportation needs. Through its complementary service offerings, available across a coast-to-coast distribution network, AHG strives to accommodate the full range of its clients' specialized supply chain needs on an integrated and efficient basis. The Company also provides specialized ground transportation services, primarily to the healthcare sector, across the 48 contiguous U.S. states. For more information on AHG, please visit: Forward-looking Information This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information may relate to the Company's future financial outlook and anticipated events or results and may include information regarding the Company's financial position, business strategy, growth strategies, addressable markets, budgets, operations, financial results, taxes, dividend policy, plans, objectives and expectations. Particularly, information regarding the Company's growth expectations, performance, achievements, payment of dividends, prospects, potential acquisitions, financial targets or outlook is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects", "budget", "scheduled", "estimates", "outlook", "forecasts", "projection", "prospects", "strategy", "intends", "anticipates", "believes", "commencing" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will", "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, intentions, targets, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. Such forward-looking statements are qualified in their entirety by the inherent risks, uncertainties and changes in circumstances surrounding future expectations which are difficult to predict and many of which are beyond the control of the Company. Statements regarding the anticipated benefits of the Transaction for the Company, shareholders and other stakeholders, including, plans, objectives, expectations and intentions of UPS or the Company; statements regarding the satisfaction of the conditions precedent to the Transaction, including the receipt of regulatory approvals and the anticipated timing thereof; payment of dividends; the proposed timing and completion of the Transaction; and other statements that are not statements of historical facts are all considered to be forward-looking information. Forward-looking information is necessarily based on a number of opinions, estimates and assumptions, including but not limited to those assumptions described under the heading "Cautionary Note Regarding Forward-Looking Information" in the Company's MD&A for Q2 2025. Forward-looking information is subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the risk that the Transaction will not be completed on the terms and conditions, or on the timing, currently contemplated; that the Transaction may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, the remaining regulatory approval and other conditions to the closing of the Transaction or for other reasons; the negative impact that the failure to complete the Transaction, for any reason, could have on the price of the subordinate voting shares of AHG or on the business of AHG; the possibility of adverse reactions or changes in business relationships resulting from the announcement or completion of the Transaction; risks relating to the Company's ability to retain and attract key personnel during and following the interim period; the possibility of litigation relating to the Transaction; credit, market, currency, operational, liquidity and funding risks generally and relating specifically to the Transaction, including changes in economic conditions, interest rates or tax rates; and those other factors discussed under the heading "Risk Factors" in the Company's annual information form dated February 26, 2025, which is available on the Company's profile on SEDAR+ at If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Accordingly, investors should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this news release represents the Company's expectations as of the date of this news release and are subject to change after such date and the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. (1) Non-IFRS Financial Measures This news release contains certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company's results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company's financial information reported under IFRS. AHG uses non-IFRS measures including "EBITDA" and "EBITDA Margin". These non-IFRS measures are used to provide investors with supplemental measures of the Company's operating performance and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. AHG also believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of issuers. AHG management also uses non-IFRS measures in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and to determine components of management compensation. EBITDA AHG defines EBITDA as net income for the period before: (i) income tax expense (recovery); (ii) interest income; (iii) interest expense; and (iv) depreciation and amortization. AHG believes EBITDA is a useful measure to assess the Company's financial performance because it provides a more relevant picture of operating results by excluding the effects of expenses that are not reflective of the Company's underlying business performance. EBITDA Margin AHG defines EBITDA Margin as EBITDA divided by revenue. EBITDA Margin represents a measure of the Company's profitability expressed as a percentage of revenue. AHG believes EBITDA Margin is a useful measure to assess the Company's financial performance because it helps quantify the Company's ability to convert revenues generated from clients into EBITDA. Reconciliation of EBITDA ($CAD 000s) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net income 13,450 15,731 33,675 30,654 Income tax expense 4,956 5,742 10,179 11,187 Interest expense 2,010 1,709 3,966 3,288 Interest income (305) (703) (628) (1,398) Depreciation and amortization 17,994 17,602 35,931 35,942 EBITDA 1 38,105 40,081 83,123 79,673 Gain on deconsolidation of subsidiary (126) - (5,146) - EBITDA 1 excluding gain on deconsolidation of subsidiary 37,979 40,081 77,977 79,673 SOURCE Andlauer Healthcare Group Inc.
New York Times
22-07-2025
- Business
- New York Times
Senators hopeful for LeBreton site deal ‘by the fall': Inside the team's new arena push
OTTAWA — Good news appears on the horizon in the Ottawa Senators' quest to replace their home arena at the Canadian Tire Centre. The Senators are hopeful that a deal could be completed as soon as this fall between the team and the federally run National Capital Commission, giving them control of a 10-acre plot of land at LeBreton Flats that would bring them much closer to the city's downtown core. Last September, the NCC and the Senators agreed in principle on a new entertainment venue to be built on the land. But a sale price had yet to be determined, with the Senators setting a goal of obtaining the land sometime in 2025. Advertisement 'I think we're close. I think we're really close,' Senators owner Michael Andlauer told The Athletic in an interview earlier this month. 'There has been great cooperation from the NCC lately. I think we both want this to happen now.' Late last week, the Ottawa Sun reported that 'real progress' was being made between the NCC and the Senators on a new arena to be built at LeBreton Flats, located west of Parliament Hill. The matter could even be resolved by late September, when the NCC holds its annual public meeting. 'You have to get an agreement. We're not there yet,' Senators president Cyril Leeder told The Athletic on Monday. 'Then, when you get an agreement, you have to satisfy your due diligence. We're not there yet. And then you have to satisfy all the conditions, one of which will be a plan that everybody likes and agrees to, including us, the NCC, the city, everybody else that's involved. I think, by the fall, it'd be reasonable to think that we should have the site under contract and we should be well underway, if not completed, most of the due diligence.' 'Both parties are working hard to reach an agreement and are committed to bringing a major events centre to LeBreton Flats,' NCC spokesman Benoit Desjardins wrote in an email to The Athletic. Leeder says that once a deal is completed, the team will be at the 'starting line' for its new event centre. So, don't expect shovels in the ground just yet. The Senators still need to complete studies on mobility, transport, parking and remediation, in addition to financing. 'So, there's a whole host of issues that keep me awake at night that have to get resolved,' Leeder said. When asked about what the sale price could be for the land, Leeder could only say that it would be a 'fair market value,' as was agreed upon last September. Advertisement 'Whatever the fair market value is, we're going to pay,' Leeder said. 'We're not looking for a bonus. We're not looking for (the NCC) to do us a favour. But we don't want to pay over market, and we have to buy the land.' Until then, the Senators expect to stay at the Canadian Tire Centre, located in the western Ottawa borough of Kanata, for 'at least' the next five years, Leeder said. Previously known as the Palladium, the Corel Centre and Scotiabank Place, the rink has been the Senators' home since 1996. But attempts to move to a downtown arena have been ongoing for over a decade, from when Eugene Melnyk was still the team's primary owner. Andlauer envisions the new arena being a 'destination' for tourists as well as citizens of Ottawa and Gatineau, while also attracting more musical artists to perform. 'There's so many areas of opportunity,' Andlauer said. 'And all we are is a catalyst in making this happen, because all we really are is a hockey club that's only going to play 40 — hopefully 46 to 47 — times a year.' In the meantime, the Senators will make adjustments to their current home. Andlauer told The Athletic in early July that they planned on replacing the older, fabric-based seats — which had been in place for over 30 years — in the lower bowl of Canadian Tire Centre with more leather-bound ones. That process was completed last week, according to Leeder. 'Michael was pretty adamant,' Leeder said. 'He said that he wanted to upgrade those seats. I think you'll see more of those upgrades, not less, in the future.' The Senators owner touted additional 'improvements' in the form of paint jobs, upgrades to the team's gym and new arena catering. Andlauer has also considered a new JumboTron, estimating that a new one might cost $10 million. 'It's been on my mind because I don't know how long it's going to take to get LeBreton going,' Andlauer said. 'How do I make it better for the fans without blowing my brains out too? I mean, there's got to be a balance, right?' Advertisement Leeder teased that more announcements could come soon but declined to speak further. 'We have a few things we're working on that we may be able to talk about,' Leeder said. 'But we're, we're not far enough along, and I don't want to let the cat out of the bag yet.' However, don't expect a 'huge overhaul' on the Canadian Tire Centre with a pending resolution for LeBreton Flats on the way. 'Because if we're going to go to LeBreton, I'll spend that money there,' Andlauer said. 'We've got that five-year window,' Leeder said. 'And we're going to continue to make upgrades to the building that are necessary and the ones that we see fit. And yes, most of them will be just keeping the lights on and keeping it going. But it's still a pretty good building. It still functions at a high level.'
New York Times
29-06-2025
- Sport
- New York Times
Claude Giroux re-signs with Senators on 1-year, $2 million deal
The Ottawa Senators have signed pending free agent Claude Giroux to a one-year contract extension with a $2 million cap hit, as league sources have told The Athletic. The contract will carry $2.75 million in performance bonuses. The 37-year-old forward scored 15 goals and 50 points in 81 games played this past season. Giroux added one goal and five points in six postseason games with the Senators. Giroux also finished the season as the team's best faceoff man with a 61.5 percent win rate. Across three seasons with the Senators, Giroux has 71 goals and 193 points in 245 regular-season games. Giroux joined Ottawa ahead of the 2022-23 season. Advertisement The signing now leaves the Senators with $7,251,786 remaining in cap space ahead of the free agent period beginning July 1, according to PuckPedia. Even if it took some time to get done, re-signing the Sens forward was a priority for the team. Sens owner Michael Andlauer even sat in on discussions between GM Steve Staios and Giroux's agent Pat Brisson during this month's scouting combine in Buffalo. When Sens players held their exit interviews with the media last month, they spoke glowingly of the veteran forward and what he meant to their locker room dynamic. Senators senior vice-president of hockey operations Dave Poulin told season-ticket holders that negotiations between Giroux and the team were 'ongoing' at an event earlier this month. Even on Saturday, moments after the Senators finished their drafting in this year's decentralized draft, Staios told the media he was 'hoping to hear back' from Giroux's camp on a deal. It got done. Giroux himself felt he had 'a lot in the tank' and believes he could still be an impact player at his age. To his point, it's not impossible to see players continue to be effective in their late 30s, though his statistics have trended downward since his first season three years ago. If the Sens don't acquire a top-line forward this summer, there is a world where Giroux starts the season on Tim Stützle's right wing again. But as he ages and his impact decreases, he may be better suited on a lower line. But as Staios and head coach Travis Green will tell you, the players dictate their place in the lineup. Giroux's place in the lineup on a team that's expected to take the next step internally will be a storyline to watch. The Athletic's Chris Johnston reported a breakdown on Sunday. Giroux must play at least 50 percent of playoff games to earn each playoff-based performance bonus. The Senators weren't expected to be a big-name player for free agents this summer thanks to their limited cap space before signing Giroux, among other pending free agents. With the Senators trying to find cap relief wherever possible, you can likely expect them to vie for depth options on the free-agent market or through trades. The team had limited cap space at the trade deadline, and it found a way to acquire Dylan Cozens in exchange for Josh Norris — two players with similar salaries. That was before adding then-pending RFA Fabian Zetterlund, too. Advertisement Between those examples and last summer's move to acquire Linus Ullmark, Staios is willing to make trades if the right offer presents itself. And he hasn't wasted time this year, acquiring Jordan Spence from the Los Angeles Kings for two draft picks, shoring up their defensive depth. There's every reason to believe Staios could be open to more opportunities this summer as his free-agent spending looks limited. (Top photo of Claude Giroux: Chris Tanouye / Freestyle Photography / Getty Images)
New York Times
06-06-2025
- Business
- New York Times
What I'm hearing about Senators' 2025 first-round pick, Drake Batherson, Claude Giroux, more
ASHTON, Ont. — It didn't take long for Ottawa Senators majority owner Michael Andlauer to get down to brass tacks when speaking to the media on a sunny Friday morning. He wasted no time coming to the defence of Drake Batherson, who has been mired in trade rumours. Unprompted, Andlauer addressed a report from the Ottawa Citizen that said the team was listening to trade offers for Batherson. The 27-year-old scored 26 goals and 68 points in 82 games this past season and is about to enter the fifth year of a seven-year deal carrying a $4,975,000 annual cap hit. Batherson's name has emerged as a trade candidate as the Senators hope to improve their scoring. Ottawa's offence ranked 19th-best and second-worst in goals scored at five-on-five last year. But the Senators seem uninterested in moving their scoring winger, who finished the season as the team's second-best goal scorer and point-getter. 'We're at the (draft) combine and, apparently, we're trading Batherson?' Andlauer said at the Senators' annual charity golf tournament at the Canadian Golf & Country Club on Friday morning. 'You know, it's not right. Sometimes, you've just got to get your sources right. You can always validate it here. But it's not for me, or Steve (Staios). To me, it's all about the player. So now all of a sudden, this guy's seeing that and it's totally false.' Advertisement Sens general manager Steve Staios confirmed later that he had spoken to Batherson about the trade talk surrounding him, and that his winger appeared unconcerned. 'I know things get out there (that) are written, and you know that there's no truth to it,' Staios said. 'But when it was written on back-to-back days, I was informed that it was out there a couple of days in a row. I talked to our players often through the offseason anyway, but I just thought the timing was right to make sure that Drake knows that there's no truth to it.' Batherson's availability was among a handful of topics discussed by Andlauer and Staios on Friday, including a brief update on the Senators' future arena at LeBreton Flats. 'It's moving forward. I don't know at what pace,' Andlauer said. 'But we're not moving back. We'll just put it that way.' The Senators continue to discuss a potential new contract for forward Claude Giroux. Both Staios and Andlauer met with Giroux's agent Pat Brisson in Buffalo during the NHL draft combine in recent days. The 37-year-old is a pending unrestricted free agent in July. He scored 15 goals and 50 points in 81 games this past season. AFP Analytics, a private sports analytics consulting firm, projected a two-year deal with a $5,172,280 annual average value for Giroux. 'We continue to talk,' Staios said. 'I think the dialogue is ongoing. You speak to the representative, you want to find what's what's fair. And it takes two sides. Staios was asked if the team tendered a contract offer to Giroux, but would only say both sides are continuing their 'dialogue.' 'I think we want to find some common ground.' Staios spoke similarly when asked about pending free agent Fabian Zetterlund, acquired at the trade deadline from the San Jose Sharks. He declined to discuss whether he's hoping to sign the Swedish forward to a short- or long-term deal. Advertisement 'Open to ideas on it, for sure,' Staios said. Staios opted for a short-term deal with defenceman Tyler Kleven at the beginning of the week, signing him to a two-year contract with a $1.6 million cap hit. He described the negotiations between him and Kleven's agent Craig Oster as 'smooth.' 'You go through the process, you talk to the agent,' Staios said. 'You find some comparables, and you're trying to find an even ground for both the player, be fair to the player, and also for the team. So, we're excited about Tyler. On a two-year deal, and he continues to develop. We're pleased with his development. I think, to his own admission, I think a bit of a slow start from last year. But certainly picked it up and played well in the playoffs as well.' Staios and the Senators also continue to monitor a developing free-agent pool, and Staios indicated he'd like to see his team have some more salary-cap flexibility. 'We'll take a look at everything,' Staios said. 'I think it's hard to tell, because a lot of these players might not make it to free agency and get re-signed by their teams. 'You're always trying to improve your team, and this is an opportunity to improve our team through the offseason and around the draft. But it's only one opportunity. I'll be prepared to do things. But you just don't want to force it. You want to make sure that it's right. So, we're going through that process.' The Senators currently have over $15 million in cap space, according to PuckPedia. The Athletic published its free-agent big board this week, led by Toronto Maple Leafs forward Mitch Marner and Florida Panthers forward Sam Bennett. Staios revealed 34-year-old defenceman Nick Jensen is recovering from a hip injury, but wouldn't get into specifics. Jensen played through his first season in Ottawa with Thomas Chabot as his partner, but was plagued by a lower-body injury for most of the second half of the season. Jensen told the media last month he was 'hopeful' to return in time for training camp this fall. Advertisement 'He's been doing very well,' Staios said. 'It is a period of time that he'll be out for. Not sure (how long). Knowing Nick in the way he's going to attack his rehab, can he expedite his return to play? Most likely with him. I don't really have a timeline on it. But (it's) certainly something that I think we were hoping that he (could get through). Once we revealed exactly what it was, we knew that it was something that needed to get taken care of. And full credit to him playing through what he did and to play at the level that he did.' A handful of defencemen could potentially hit the free-agent market next month, including Florida Panthers defenceman Aaron Ekblad, who told the media on Friday he hopes to re-sign in Florida. The Senators will keep their first-round pick for this month's upcoming draft, meaning they'll be forced to forfeit next year's first-round pick for their role in a 2022 nullified Evgenii Dadonov trade involving the Vegas Golden Knights. Andlauer told the media in April he was hoping for 'some kind of forgiveness' from league commissioner Gary Bettman and mentioned it again on Friday. 'Did I say I was hopeful?' Andlauer said. 'No, I think I said I was going to go on my knees and plead for forgiveness, is what I was going to say. Even though it was never on my watch and I'll keep reiterating that. Would I be hopeful? I would love it. At the end of the day, just be a good citizen and do what's right for our club, but do what's right for the NHL.' So, that leaves the Senators with the No. 21 pick in this month's draft and a handful of possibilities available. Staios said he's 'pretty much open to anything' when asked if he'd consider trading it, but the Senators seem intrigued about who they could draft. 'We're sitting at 21, and as we look at the list and watch the players that could potentially be there, we're growing more excited about the pick,' Staios said. The Athletic's draft gurus, Scott Wheeler and Corey Pronman, have projected defenceman Blake Fiddler, goaltender Joshua Ravensbergen and centre Jack Nesbitt to the Senators in recent mock drafts. Youngsters Malcolm Spence, Ben Kindel and Ivan Ryabkin are also possibilities. Senators head scout Don Boyd told The Athletic last month that their strategy is picking the 'best player available' when it's their turn. 'We feel that there will be a player, at least one and probably a few more, that could be picked in that area that are going to be NHL players,' Boyd said. (Top photo of Claude Giroux and Drake Batherson: Chris Tanouye / Freestyle Photography / Getty Images)
Cision Canada
02-06-2025
- Business
- Cision Canada
Andlauer Healthcare Group Announces Filing and Mailing of Information Circular and Receipt of Interim Order in Connection with its Acquisition by UPS
TORONTO, June 2, 2025 /CNW/ - Andlauer Healthcare Group Inc. (TSX: AND) (" AHG" or the " Company") today announced that its management information circular (the " Information Circular") in connection with the Company's upcoming special meeting (the " Meeting") of the holders (the " Shareholders") of the Company's multiple voting shares and subordinate voting shares (collectively, the " Shares") is available under AHG's profile on SEDAR+ ( as well as on the Company's website at The physical delivery to Shareholders of the Information Circular and related materials for the Meeting (collectively, the " Meeting Materials") has also commenced. The Meeting is being held for Shareholders to consider and vote on a special resolution (the " Arrangement Resolution") approving a plan of arrangement pursuant to which affiliates of UPS (NYSE: UPS) will acquire all of the issued and outstanding Shares for C$55.00 per Share in cash (the " Arrangement"), as more fully described in the Information Circular. The Arrangement Resolution requires approval of at least two-thirds (66 ⅔%) of the votes cast by Shareholders at the Meeting, voting together as a single class. Michael Andlauer and Andlauer Management Group Inc., the Company's largest Shareholder, and each of the Company's other directors and officers have entered into voting and support agreements pursuant to which they have agreed, subject to the terms thereof, to support and vote all of their Shares in favour of the Arrangement. Consequently, holders of approximately 2.6% of AHG's subordinate voting shares and holders of 100% of its multiple voting shares, representing approximately 82.4% of the total voting power attached to all of the Shares, have agreed to vote their Shares in favour of the Arrangement Resolution. The Company will hold the Meeting in a virtual-only meeting format, online at on June 24, 2025 at 11:00 a.m. (Toronto time). Only Shareholders of record at the close of business on May 13, 2025 (the " Record Date") will be entitled to vote at the Meeting. Shareholders are encouraged to read the Information Circular in its entirety and vote their Shares as soon as possible ahead of the proxy voting deadline of 11:00 a.m. (Toronto time) on June 20, 2025 or, if the Meeting is adjourned or postponed, at least 48 hours (excluding Saturdays, Sundays and holidays in the Province of Ontario) prior to the commencement of the reconvened Meeting (the " Proxy Deadline"). The board of directors of the Company, after receiving advice from its financial and legal advisors, and after receiving a unanimous recommendation from a special committee of independent directors, recommends that Shareholders vote FOR the Arrangement Resolution. Further details and voting instructions can be found in the Information Circular. Receipt of Interim Order The Company is also pleased to announce that the Ontario Superior Court of Justice (Commercial List) (the " Court") issued an interim order dated May 20, 2025 in connection with the Arrangement, authorizing the calling and holding of the Meeting and other matters related to the conduct of the Meeting. In addition to obtaining Shareholder approval at the Meeting, the completion of the Arrangement will be subject to obtaining the final order of the Court for the Arrangement, obtaining applicable regulatory approvals or clearances, as well as other customary closing conditions. Impact of Potential Canada Post Labour Disruption on the Delivery of Meeting Materials to Canadian Shareholders In light of the potential Canada Post labour disruption, beneficial Shareholders (i.e. Shareholders who hold their Shares with one or more financial institutions or brokers) in Canada as of the Record Date who have previously requested that physical copies of the Meeting Materials be sent to them, may experience delays in receiving physical copies of the Meeting Materials. The Company does not expect any impact on the delivery of physical copies of the Meeting Materials to any registered Shareholders or US or international Shareholders who have requested such physical copies, or to the Company's Canadian Shareholders who have elected for materials for Shareholder meetings to be sent to them by e-mail. Shareholders are encouraged to access the Information Circular electronically under the Company's profile on SEDAR+ at or on the Company's website at Any Shareholder who, as a result of the potential Canada Post labour disruption, is delayed in receiving their previously requested physical copy of the Information Circular may request to receive an electronic copy of the Information Circular by e-mail or a physical delivery of the Information Circular by UPS at [email protected]. If you are a Canadian beneficial Shareholder, you are encouraged to contact your brokerage firm, financial institution or other intermediary and request the control number for each of your accounts that hold Shares, as delivery of a physical copy of your voting instruction form may be delayed. Once you have obtained your control number(s), you can vote the Shares represented by such control number(s) at As a result of the potential Canada Post labour disruption, proxies and voting instruction forms that Shareholders mail back to Broadridge Investor Communications Corporation (" Broadridge") in Canada may not be received by Broadridge prior to the Proxy Deadline. Accordingly, all Shareholders are strongly encouraged to vote their Shares online or by telephone as instructed in the Meeting Materials. It is recommended that any physical forms of proxy or voting instruction forms be delivered via hand or courier (other than Canada Post) to ensure that they are received in a timely manner. Shareholders should contact Broadridge by e-mail at [email protected] if they need any assistance in voting their Shares. About AHG AHG is a leading and growing supply chain management company offering a robust platform of customized third-party logistics (" 3PL") and specialized transportation solutions for the healthcare sector. The Company's 3PL services include customized logistics, distribution and packaging solutions for healthcare manufacturers across Canada. AHG's specialized transportation services in Canada, including air freight forwarding, ground transportation, dedicated delivery and last mile services, provide a one-stop shop for clients' healthcare transportation needs. Through its complementary service offerings, available across a coast-to-coast distribution network, AHG strives to accommodate the full range of its clients' specialized supply chain needs on an integrated and efficient basis. For more information on AHG, please visit: Forward-Looking Information This press release contains "forward-looking information" and "forward-looking statements" (collectively, " forward-looking information") within the meaning of applicable securities laws. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects", "is expected", "an opportunity exists", "budget", "scheduled", "estimates", "outlook", "forecasts", "projects", "projection", "prospects", "strategy", "intends", "anticipates", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or, "will", "occur" or "be achieved", and similar words or the negative of these terms and similar terminology. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Specifically, statements regarding the anticipated timing of the Meeting; the proposed completion of the Arrangement; and other statements that are not statements of historical facts are all considered to be forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. This forward-looking information is based on our opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the risk that the Arrangement will not be completed on the terms and conditions, or on the timing, currently contemplated; that the Arrangement may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, required Shareholder, court and regulatory approvals and other conditions to the closing of the Arrangement or for other reasons; the risk that competing offers or acquisition proposals will be made; the possibility of litigation relating to the Arrangement; credit, market, currency, operational, liquidity and funding risks generally and relating specifically to the Arrangement, including changes in economic conditions, interest rates or tax rates; risks related to delays in Shareholders receiving the Meeting Materials in light of the potential Canada Post labour disruption, and those other risks discussed in greater detail under the "Risk Factors" section of our Annual Information Form which is available under our profile on SEDAR+ at If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in forward-looking statements included herein. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, any forward-looking statements included herein are made as of the date of this news release and, except as expressly required by applicable law, AHG assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements. SOURCE Andlauer Healthcare Group Inc.
