Evolved Digital Systems Inc. announces forbearance agreement



    MONTREAL, April 19 /CNW Telbec/ - Evolved Digital Systems Inc.
(TSX: EVD), announced today that Argosy Bridge Fund L.P. II has agreed to
extend their previously disclosed forbearance arrangement related to the
company's debt until April 26, 2007. As previously disclosed, Evolved has
entered into an agreement to sell substantially all of the assets of the
Canadian operations of the company for US$8.5 million. Evolved is obligated to
use the proceeds to repay all secured debt, including all amounts owed to
Argosy Bridge Fund L.P. II. The transaction is expected to close by April 26,
2007.

    About Evolved

    Through its Digital Imaging Workflow Solution, Evolved serves its clients
with a Managed Services approach proven to increase operational efficiency and
to reduce IT spending in hospitals and imaging facilities across the United
States. Evolved's fully managed, web-based RIS solution includes image and
data verification from a modality to the archive and/or HIS, on-line dictation
and transcription, and optional integrated PACS with 5 years of on-site
storage. Evolved's Managed Services offering provides a unique workflow
solution seamlessly integrated, and backed by a highly qualified and dedicated
team of experts. Evolved's clients can additionally choose to utilize
Evolved's secure, state of the art data center for offsite archiving and
disaster recovery. Evolved's solution addresses common challenges small to
medium sized facilities face today by providing custom solutions, founded on a
pay as you go financial model, and backed by unparalleled off-site customer
service and support. Evolved is a publicly traded company listed on the
Toronto Stock Exchange (TSX: EVD). Corporate headquarters are based in Laval,
Quebec. U.S. offices are located at 5141 Virginia Way, Suite 300, Brentwood,
TN 37027.
    For more information, contact EVOLVED at 1-800-5EVOLVED or visit the
company website at www.evolveddigital.com

    The TSX has neither approved nor disapproved the information contained
    herein.




For further information:

For further information: Linda Willis, Vice President and Controller,
(615) 850-3029, linda.willis@evolveddigital.com; Source: Evolved Digital
Systems Inc.

Organization Profile

EVOLVED DIGITAL SYSTEMS INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890