Nightingale strengthens EMR market position with two contracts totaling $1.0 million
19 März 2012 - 12:30PM
PR Newswire (Canada)
Agreements with two government agencies fuel continued growth
momentum MARKHAM, ON, March 19, 2012 /CNW/ - Nightingale Informatix
Corporation ("Nightingale" or the "Company") , an application
service provider (ASP) of electronic medical record (EMR) software
and related services, today announced that it has signed EMR
license and service agreements with two government agencies
totaling more than $1.0 million. Nightingale will commence
deployment for both contracts immediately, with the deployment
expected to be completed by Summer 2012. "These two agreements
demonstrate our continued success in accelerating organic growth
with larger-scale EMR contract and other services wins," said Sam
Chebib, President and CEO, Nightingale Informatix. "We continue to
be a leading choice with small and medium clinics, and now that the
enterprise market is starting to open up, we are a clear front
runner with that market segment as well. With these recent wins, in
addition to our milestone 10-year $17.0 million EMR contract that
we announced late last year, we are building a deployment backlog
that positions us for sustainable revenue growth and EBITDA margin
expansion going forward." "Large healthcare organizations conduct
extensive due diligence and set stringent selection criteria when
choosing an EMR vendor," Mr. Chebib added. "As such, winning
enterprise deals is always a particularly strong testament to the
technology leadership of our cloud-based EMR offering, quality of
our customer service and overall Nightingale brand." In December
2011, Nightingale strengthened its market leadership in Canada by
winning a major contract to provide bilingual (French and English)
EMR software to 3,500 healthcare providers across Ontario. Valued
at $17.0 million over the 10-year life of the agreement, this
represents one of the largest EMR contracts ever awarded in Canada.
In addition, with the Company's plans to launch a bilingual EMR,
and its new office in Quebec City, Nightingale is positioned to
expand its services to the Quebec EMR market in the next fiscal
year. About Nightingale Nightingale is one of the fastest growing
health care service and software companies in North America and is
recognized as an industry leader in Web-based 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", "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", "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 secure customer
contracts and the timing of securing such contracts; the ability of
Nightingale to complete and successfully integrate its acquisitions
on an accretive basis, Nightingale's access to debt and capital
facilities, including compliance with current debt arrangements;
the existence of present and possible future government regulation;
the significant competition that exists in the medical software
industry; the early stage of Nightingale's business, and 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. Certain material factors or assumptions
applied by management in making forward-looking statements, include
without limitation, factors and assumptions regarding future trends
in healthcare spending, economic conditions affecting Nightingale
and North American economies; Nightingale's ability to continue to
fund its business, rates of customer defaults, relationships with,
and payments to lenders, as well as Nightingale's operating cost
structure. Although Nightingale has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking statements, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. Nightingale does not undertake to update any
forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws.
Further information on Nightingale Informatix Corporation is
available at www.sedar.com. 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. Nightingale Informatix
Corporation CONTACT: Sharmeen Arafat, Marketing ManagerNightingale
Informatix CorporationTel: 905-307-3617sarafat@nightingalemd.com
Kristen Dickson, Account ExecutiveThe Equicom GroupTel:
416-815-0700 ext. 273kdickson@equicomgroup.com
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