Medworxx Announces Cancellation of Intent to Acquire HealthCast Inc. and $4.2 Million Private Placement



    TORONTO, Oct. 16 /CNW/ - Medworxx Solutions Inc., (TSX-V: MWX), the
makers of a strategic software platform that hospitals use to communicate,
aggregate, and analyze knowledge, announced that it is no longer planning to
acquire HealthCast Inc. of Boise, Idaho. Instead, Medworxx is pursuing a
strategic alliance with HealthCast, a leading provider of enterprise access
management and single sign-on solutions for hospitals.
    As a result, Medworxx also announced that it will not be completing the
$4.2 Million Private Placement that was announced in July. Medworxx had
engaged Loewen, Ondaatje, McCutcheon Limited to lead a brokered private
placement to raise, on a best efforts agency basis, up to $4.2 million through
the issuance of Units.

    About Medworxx:

    Founded in 2004 and publicly traded on the TSX Venture Exchange, Medworxx
makes a strategic software platform that hospitals use to communicate,
aggregate, and analyze knowledge. Headquartered in Toronto, Ontario, Medworxx
products are used by more than 400,000 people at over 250 hospitals across
North America. Medworxx: our market is healthcare, our vertical is knowledge.

    This press release contains forward-looking statements. Often, but not
always, forward-looking statements can be identified by the use of words such
as "plans", "expects" or "does not expect", "is expected", "estimates",
"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" or "will" be taken, occur or be
achieved.
    Forward-looking statements involve known and unknown risks, uncertainties
and other factors, such as competition, technological changes, the changing
needs of hospitals, the financial condition of the Company's current and
potential customers, foreign currency exchange rates, as well as general
economic conditions, which may cause the actual results, performance or
achievements of the Corporation and Medworxx to be materially different from
any future results, performance or achievements expressed or implied by the
forward-looking statements. Actual results and developments are likely to
differ, and may differ materially, from those expressed or implied by the
forward-looking statements contained in this press release. There can be no
assurance that forward-looking 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.

    %SEDAR: 00024567E




For further information:

For further information: Dan Matlow, President and Chief Executive
Officer, Phone: (416) 642-1278, Fax: (416) 847-0037, info@medworxx.com, 121
Richmond Street West, Suite 700, Toronto, Ontario, Canada, M5H 2K1

Organization Profile

MEDWORXX INC.

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