Canadian Company Press Release
MediSolution Acquires EventWerx Software Inc.
MONTREAL, QUEBEC--MediSolution Ltd. (TSE: MSH), Canada's leading
provider of information technology to the healthcare sector, today
announced that it has completed the purchase of all of the
outstanding shares of EventWerx Software Inc.("EventWerx").
EventWerx is a privately-held Alberta corporation engaged in the
business of developing, maintaining and selling computer software
for the healthcare sector.
The two companies formed a strategic alliance in 1997 when
MediSolution acquired the exclusive Canadian distribution rights
for the premier EventWerx product MediPatient+.
Pursuant to a letter of intent entered into on March 3, 1999, an
agreement of purchase and sale was signed on September 2, 1999 and
the transaction closed on September 24,1999. The transaction is
effective as at March 1,1999.
The purchase price for the shares was a maximum of $1,050,000 and
a minimum of $800,000. The purchase price included a cash payment
of $150,000, the issuance of 200,000 common shares of MSH, and the
balance based on 10 percent of the license fees earned by MSH for
the sale of MediPatient+ software for sales made during the
three-year period between March 1,1999 and February 28, 2002.
In announcing completion of the transaction, MediSolution
President and CEO, R?mi St-Hilaire said: "We're delighted to
expand our presence in Western Canada by acquiring EventWerx,
developers of our leading-edge MediPatient+ patient administration
system. MediPatient+ was a key component in our recent five-year
agreement with Alberta Health that will permit Regional Health
Authorities and Provincial Health Boards to deploy MediSolution
products."
MediSolution Ltd. is Canada's leading healthcare information
technology company. The company offers a comprehensive suite of
information systems, managed services, integration technology and
professional services to more than 600 hospitals and other
institutions. The company also has an installed base of practice
management systems serving physicians and pharmacists.
MediSolution's Web site address is medisolution.com |
