TORONTO, ONTARIO–(Marketwire – March 20, 2012) – 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 www.sedar.com or through EnerCare's website at http://investors.enercare.ca. Information on the sub-metering business is also available at www.enercareconnections.com.
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