Nightingale Signs Agreements to Deploy More Than 850 seats during Fiscal 2011
09 Mai 2011 - 2:00PM
PR Newswire (Canada)
MARKHAM, ON, May 9 /CNW/ -- Seat sales up approximately 200%
year-over-year MARKHAM, ON, May 9 /CNW/ - Nightingale Informatix
Corporation (TSX-V: NGH) ("Nightingale" or the "Company"), an
application service provider (ASP) of Electronic Medical Record
(EMR) software and related services, today announced that during
Fiscal 2011 ended March 31, 2011, it signed agreements to deploy
more than 850 seats across North America, compared to approximately
290 seats in Fiscal 2010. (A "seat" is defined as a paying
healthcare provider using Nightingale's Electronic Medical Record).
More than 200 of the FY2011 total seats were sold during the fourth
quarter. "As evidenced by the almost 200% year-over-year increase
in the number of seats we signed, the North American EMR market
environment is improving, and we are successfully capitalizing on
the opportunity," said Sam Chebib, President & CEO, Nightingale
Informatix Corporation. "The availability of government funding has
been a significant near-term catalyst for increasing adoption
rates. However, we are confident that the strengthening of the EMR
market demonstrates a growing recognition among physicians of the
value EMR technology brings to medical practices, moving us toward
the phase of mass adoption." During the fourth quarter, in Canada,
Nightingale's success was primarily in the SMB (Small and Medium
Business) healthcare sector, particularly driven by agreements
supported through OntarioMD's EMR implementation funding program.
Contract wins of note include family health organizations in
Windsor, London, Ottawa, Hamilton, Muskoka and Mississauga, in
addition to numerous wins with other Canadian clinics. In the
US, the Company signed an EMR agreement with a specialized nursing
facility in upstate New York. Mr. Chebib added: "EMR is a key
growth driver for our business. With our new seat sale wins, we are
strengthening our cash from operations and growing our deferred
revenue base, with the top line impact becoming more evident over
the longer term in the form of recurring revenues. Although there
may still be some near-term fluctuations, we anticipate that North
American healthcare practitioners' adoption of EMR will continue to
gain momentum." About Nightingale Informatix Corporation
Nightingale is one of the fastest growing health care service and
software companies in North America. It is recognized as an
industry leader in Web-based (ASP) clinician and community based
electronic medical records (EMR) serving the needs of small primary
care practices, multi-physician outpatient clinics, and large scale
regional health organizations and networks. Coupled with integrated
practice management, transcription and revenue cycle management,
Nightingale's comprehensive service offering allows customers to
enhance patient care, increase revenue opportunities and optimize
operations. Nightingale is continuously innovating and enhancing
its services to meet the needs of its growing and diverse customer
base. Nightingale - Healthcare connected.
www.nightingalemd.com Forward Looking Statement This press release
contains "forward-looking statements" respecting the issuance and
cancellation of securities of the Company within the meaning of
applicable Canadian securities legislation. Generally,
forward-looking statements can be identified by the use of forward-
looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may" ,"could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of Nightingale to be
materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the speculative nature of the medical software industry,
which is affected by numerous factors beyond Nightingale's control;
the ability of Nightingale to successfully integrate its
acquisitions and any liabilities arising as a result of such
acquisitions, access to capital and agreements with its Lenders;
the existence of present and possible future government regulation;
access to debt or equity financing and agreements with its Lenders;
the significant and increasing competition that exists in the
medical software industry; the early stage of Nightingale's
business; and therefore it is subject to the risks associated with
early stage companies, including uncertainty of revenues, markets
and profitability and the need to raise additional funding.
All material assumptions used in making forward-looking statements
are based on management's knowledge of current business conditions
and expectations of future business conditions and trends. Although
management believes the assumptions used to make such statements
are reasonable at this time, our assumptions may not to be as
anticipated, estimated or intended. Certain material factors or
assumptions applied by management in making forward-looking
statements, include without limitation, factors and assumptions
regarding Nightingale's continued ability to fund its business,
rates of customer defaults, relationships with, and payments to,
lenders, demand for Nightingale's products, as well as
Nightingale's operating cost structure. Neither the TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. To
view this news release in HTML formatting, please use the following
URL:
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Kristen Dickson, M.Sc.br/ Account Executivebr/ Equicom, a TMX Group
Companybr/ Tel: 416.815.0700 ext. 273br/ a
href="mailto:kdickson@equicomgroup.com"kdickson@equicomgroup.com/a
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