This is potentially very big news for this company. I spoke with management today and this company is executing very well. This stock will not stay under $0.20 for very long. One of my favorites in this market. MDUUF.pk
Healthscreen and Wolf form Western Canadian Partnership
Companies partner to extend EMR and practice enhancing services to thousands
of Canadian physicians
TORONTO, ON and VANCOUVER, BC – October 9, 2008 - Healthscreen Solutions
Inc. (TSX-V: MDU), a leading Canadian provider of physician practice
enhancement services and electronic medical record (EMR) software, and Wolf
Medical Systems, a leading national provider of electronic medical records
(EMR) software, are pleased to announce a strategic alliance to offer their
respective industry leading solutions to physicians in Western Canada.
Under the partnership agreement, the two companies will engage in joint
marketing and sales programs to their respective customers. With many
Canadian physicians already using the CallerMD service to manage uninsured
services, Healthscreen will become the exclusive provider of this industry
leading practice enhancing service to Wolf clients. In turn, Wolf will
become the exclusive third party EMR provider to Healthscreen’s 1,000
British Columbia-based physicians, which were acquired in the Regent
transaction in 2008.
Through British Columbia’s Physician Information Technology Office (PITO),
Wolf is one of only six approved EMR vendors in BC for doctors eligible to
receive government funding to implement EMR solutions, and is the only EMR
vendor to be selected or conformant in BC, Alberta and Ontario.
"We are very pleased to enter into this partnership. Wolf has a proven EMR
solution, a strong brand and a significant presence in Western Canada," said
Justin Belobaba, President and CEO of Healthscreen. "Given Healthscreen’s
track record of successfully offering value add services to physicians
through acquisitions or partnerships, we believe this collaboration
considerably speeds-up our expansion process in the West, while increasing
our distribution network to over 8,000 Canadian physicians. It also allows
us to offer our software customers in British Columbia a seamless transition
to a PITO-approved EMR product, while preserving that software revenue
stream and continuing to offer those customers our practice enhancing
physician services."
"This partnership marks yet another important milestone in Wolf’s growth. As
the only EMR solution selected or conformant in Alberta, BC and Ontario,
Wolf is increasingly regarded as the solution of choice for physicians who
require a complete and proven EMR solution for the long term," said Brendan
Byrne, President and CEO of Wolf. "CallerMD is a natural extension of our
offering, helping us deliver a more complete solution to our clients. We are
excited to offer Healthscreen’s Regent software customers a PITO-funded EMR
continuity path and look forward to working with Healthscreen and their
clients in BC."
About Healthscreen Solutions
Healthscreen Solutions (www.healthscreen.com) provides a comprehensive suite
of practice enhancement products and services to increase physician
productivity and revenue while reducing costs and improving patient care.
The Company’s portfolio includes billing and scheduling software, electronic
medical records software, CallerMD which assists physicians in managing a
range of uninsured medical services, PrevCareMD which helps physicians earn
supplemental income by achieving government-set preventive care targets, and
HealthAlert which allows physicians to help their patients in managing
complex healthcare issues. Healthscreen is used by over 5,300 full-time
physicians who are responsible for more than $1.5 billion in healthcare
transactions per year through its system.
About Wolf Medical Systems
Wolf Medical Systems is a leading national provider of electronic medical
records (EMR) software for physician offices and medical clinics across
Canada. Founded in 1998, the company has hundreds of installed sites and
thousands of physicians and allied healthcare users across Canada. Wolf's
EMR software includes a complete set of physician-designed applications that
automate the unique processes of billing, scheduling, workflow planning,
chronic disease management and clinical practice for physician offices and
medical clinics within the context of each province's unique regulatory
environments. For more information on Wolf Medical Systems, visit
www.wolfmedical.com
© 2008 Healthscreen Solutions Inc. All Rights Reserved.
For more information, please contact:
Paul Andreola or Ian Pedersen
Canadian Nexus Capital Markets Ltd.
1-877-906-3987
paul@canadiannexus.com
Healthscreen Solutions Inc.
Amir Nayeri, Director Corporate Development
1-866-534-DOCS ext. 7107
nayeri@healthscreen.com
Wolf Medical Systems
Alexandra Best, VP Marketing
604-512-3313
media@wolfmedical.com
Disclaimer: Forward Looking Statements
This press release contains information that is forward looking information
with respect to Healthscreen within the meaning of Section 138.4(9) of the
Ontario Securities Act and other applicable securities laws. In some cases,
forward-looking information can be identified by the use of terms such as
"may", "will", "should", "expect", "plan", "anticipate", "believe",
"intend", "estimate", "predict", "potential", "continue" or the negative of
theses terms or other similar expressions concerning matters that are not
historical facts. In particular, statements about future revenues or
profitability, including the estimated timing of profitability, and any
other statements regarding Healthscreen’s future expectations, beliefs,
goals or prospects are or involve forward-looking information.
Forward-looking information is based on certain factors and assumptions.
Assumptions made in making forward looking statements in this release
include continued market adoption of our Physician Services offering and
Healthscreen’s ability to successfully sell its services to Wolf clients..
While the company considers these assumptions to be reasonable based on
information currently available to it, they may prove to be incorrect.
Forward-looking information, by its nature necessarily involves risks and
uncertainties, including risks and uncertainties relating to government
regulation and funding in the healthcare industry, financial and capital
market risks, technology development and adoption, Healthscreen’s ability to
maintain it’s competitive position and effectively implement it’s
acquisition strategy, liability for software malfunction, management of
growth, and length of sales cycles. Additional risks and uncertainties
affecting Healthscreen can be found in Healthscreen’s 2007 Annual Report and
Management’s Discussion and Analysis for the Third Quarter ended June 30,
2008 filed on SEDAR at www.sedar.com. If any of these risks or
uncertainties were to materialize, or if the factors and assumptions
underlying the forward-looking information were to prove incorrect, actual
results could vary materially from those that are expressed or implied by
the forward-looking information contained herein. Healthscreen or revise
any forward looking statements, whether as a result of new information,
future events or otherwise. Readers are cautioned not to place undue
reliance on these forward-looking statements that speak only as of the date
hereof. Trading in the securities of Healthscreen should be considered
highly speculative. The TSX Venture Exchange has in no way approved nor
disapproved the contents of this new release. |
