TORONTO, ONTARIO — (Marketwire) — 03/20/12 — EnerCare Inc. (“EnerCare”) (TSX: ECI) today named William M. Wells to its board of directors, effective immediately. Mr. Wells- appointment expands the EnerCare board from seven to eight members.
Speaking on behalf of the board, Jim Pantelidis, EnerCare-s chairman, said: “We are delighted that Bill Wells has joined our board. His extensive financial and leadership experience will be a valuable asset as we continue to build and maintain long-term shareholder value.”
Mr. Wells is one of Canada-s most respected and seasoned corporate executives. As chief executive officer of Biovail, he led the turnaround of Canada-s largest public pharmaceutical company, and its subsequent merger with Valeant Pharmaceuticals to create one of the world-s leading specialty pharmaceutical companies. He stepped down as chairman of Valeant in late 2010.
Mr. Wells was previously chief financial officer of Loblaw Companies Limited, Canada-s largest supermarket chain, and Bunge Limited, one of the world-s leading commodity and food companies. He is also the founder and chairman of Evizone Limited, a pioneer in leading-edge technology for secure communications over the Internet. He is a director of Acadia Pharmaceuticals and Myriant Corporation where he chairs the audit committee. Mr. Wells also serves on the board of the Lakefield College School Foundation where he is a member of the finance committee.
About EnerCare Inc.
EnerCare owns a portfolio of approximately 1.2 million installed water heaters and other assets, rented primarily to residential customers in Ontario. EnerCare also owns EnerCare Connections Inc., a leading sub-metering company, with metering contracts for condominium and apartment suites in Ontario, Alberta and elsewhere in Canada.
Additional information regarding EnerCare is available on SEDAR at or through EnerCare-s website at . Information on the sub-metering business is also available at .
Contacts:
EnerCare Inc.
Evelyn Sutherland
CFO
416.649.1860