EMBARGOED UNTIL February 26, 2013
Southmedic Inc. Named One of Canada’s Best Managed Companies
Toronto, ON – February 26, 2013 – Southmedic Inc. triumphed over hundreds of other applicants to win a 2012 Canada’s Best Managed Companies (Best Managed) award. Southmedic Inc. has demonstrated their commitment to the program and successfully applied for the designation as a Gold Standard winner in 2012. Southmedic Inc. was a winner of Canada’s Best Managed Companies program in 2009, subsequently re-qualifying in 2010 and 2011. This prestigious national award is sponsored by Deloitte, CIBC, National Post, Queen’s School of Business and MacKay CEO forums.
“Canada’s Best Managed Companies program has recognized the most innovative and Best Managed Companies in Canada. We are delighted to celebrate the accomplishments of Southmedic Inc.,” said John Hughes, National leader for Canada’s Best Managed Companies program and leader of the Greater Toronto Growth Enterprise practice for Deloitte.
“We hire talented people and allow them the freedom to perform. Our staff and business planning process are instrumental to our current success. Southmedic has addressed cost-effectiveness by increasing vertical integration in an effort to generate and share efficiency savings on quality healthcare products with our customers. From research and development, to manufacturing, distribution and sales – our unique structure and approach are crucial to our success,” said Lee McDonald, President and CEO of Southmedic Inc.
Established in 1993, the Canada’s Best Managed Companies is a national awards program, recognizing Canadian companies that have implemented world-class business practices and created value in innovative ways. Applications are reviewed by an independent judging panel that evaluates how companies address various business challenges, including new technologies, globalization, brand management, leadership, leveraging and developing core competencies, designing information systems, and hiring the right talent to facilitate growth.
“Winning the 50 Best Managed Gold Standard award is a wonderful reflection on our staff and organization. The 50 Best Managed logo has been proudly displayed in our office since 2009 and is regularly recognized by our customers and staff for the accomplishment that it is,” said Lee McDonald, President and CEO of Southmedic Inc.
“As we celebrate our 20th anniversary, we would like to congratulate Southmedic Inc. and its entire workforce. Achieving Canada’s highest level of Canadian business excellence takes a united effort and we are privileged to acknowledge such a strong team,” said John Hughes, National leader for Canada’s Best Managed Companies program and leader of the Greater Toronto Growth Enterprise practice for Deloitte.
2012 winners of the Canada’s Best Managed Companies award, along with the Gold Standard winners, Requalified and Platinum Club members will be honoured at the annual Best Managed gala in Toronto on April 16, 2013. On the same date, the Best Managed symposium will address leading-edge business issues that are key to the success of today’s business leaders.
About Canada’s Best Managed Companies
Canada’s Best Managed Companies continues to be the mark of excellence for Canadian-owned and managed companies with revenues over $10 million. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on four levels: 1) Best Managed winner (one of the 50 new winners selected each year); 2) Requalified member (repeat winners retain the Best Managed designation for two additional years, subject to annual operational and financial review); 3) Gold Standard winner (After three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully reapplied for the designation. Companies may requalify for two additional years, subject to annual operational and financial review; 4) Platinum Club member (winners that maintain Best Managed status for a minimum of six consecutive years). Program sponsors are Deloitte, CIBC, National Post, Queen’s School of Business and MacKay CEO forums. For further information, visit www.bestmanagedcompanies.ca. Visit the online community for private companies the Best Managed channel on FP Executive: www.financialpost.com/bestmanaged
About Southmedic Inc. (www.southmedic.com)
Established in 1983, Southmedic Inc. is a vertically integrated medical manufacturing company. Southmedic is comprised of three unique divisions: a Proprietary Business Unit that is extensively involved in the research, development, manufacturing and global distribution of proprietary products for the Respiratory and Surgical Specialties market; a Contract Manufacturing Business Unit that provides value-added clean-room contract manufacturing and assembly and a Domestic Distribution Division that focuses on proprietary as well as 3rd party specialty operating room products.
For further information, please contact: