Healthscreen announces court appointed receiver
KELOWNA, BC, Sept. 2, 2011 /CNW/ - (TSX-V: QHR) QHR Technologies Inc. ("QHR" or the "Company") a leader in the Canadian Healthcare Information Technology sector, is providing an update of its wholly owned subsidiary 2293035 Ontario Limited, ("229"), and its business activities with Healthscreen Solutions Inc. ("Healthscreen").
Healthscreen has agreed to waive the notice period under the Demand for Payment that was announced August 19, 2011, wherein 229 issued a Demand Notice to Healthscreen pursuant to the debentures under which Healthscreen is indebted to 229, and allow a court appointed receiver to manage the transition and transfer of Healthscreen's assets.
As announced today by Healthscreen, the Superior Court of Justice of Ontario has appointed a receiver of Healthscreen's business and assets.
Waiving the notice period accelerates the process of Healthscreen divesting its software operations through a court appointed receiver, minimizing the impact on the Healthscreen customer base. As announced July 25, 2011 QHR will make an offer to acquire the Healthscreen software division.
For a more complete business and financial profile of the Company, management encourages interested parties to visit the Company's website: www.QHRtechnologies.com. For specific information on Optimed or EMR inquiries visit www.Optimedsoftware.com
On behalf of the Board of Directors,
President and CEO
ABOUT QHR TECHNOLOGIES INC.
QHR now operates three business units in distinct markets:
The Enterprise Management Software ("EMS") division specializes in workforce management software, which consists of integrated payroll, staff scheduling and human resource software, and in customized financial management software built on the Microsoft Dynamics GP platform. These products are targeted at complex healthcare, social services and public safety markets.
The Electronic Medical Records ("EMR") division offers a suite of medical software modules that provides computer-based medical records for family physicians, medical specialists, and surgeons, as well as administrative modules for billing and patient scheduling, that is a key component of the move throughout Canada to provide electronic healthcare records for all Canadians.
The Hosting division specializes in EMR ASP Hosting solutions both on-site and off-site, which consist of custom application hosted solutions, exchange email hosting, office software packages, mobile messaging services, server archiving and many other custom solutions and services. These solutions are targeted at EMR clients looking for an enhanced ASP option, required by some provincial governments.
Legal Notice Regarding Forward Looking Statements
This news release contains "forward looking statements" within the meaning of applicable Canadian securities legislation. These statements are subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward looking statement. Forward looking statements in this press release include that; the process of Healthscreen divesting their assets is accelerated and that QHR will make an offer for the software division of Healthscreen. Risks that may prevent or delay the forward looking statements from coming to fruition include that circumstances or due diligence may prevent us from making our intended offer, and if an offer is made, there is no assurance that a purchase will be completed. Except as required by law, we take no responsibility to update these forward looking statements. Further information on the Company is available at www.sedar.com.
Neither 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.For further information:
|Al Hildebrandt, President & CEO||John Gillberry, EVP & Chief Financial Officer|
|QHR Technologies Inc.||QHR Technologies Inc.|