TORONTO, Jan. 15, 2016 /CNW/ - NexJ Systems Inc. (TSX: NXJ) ("NexJ"), a provider of enterprise customer management solutions to the financial services industry and a cloud-based population health management platform to the healthcare industry, today announced that it has received the approval of the Ontario Superior Court of Justice for its previously announced shareholder approved Plan of Arrangement to spin-off the Healthcare business unit to NexJ Health Holdings Inc. ("Newco"), a newly-incorporated company.
The record date for the distribution of common shares of Newco ("Newco Shares") is January 22, 2016. Upon completion of the Arrangement, shareholders of NexJ will own one new common share of NexJ and one Newco Share for each common share of NexJ held as of the close of business on the record date. The Arrangement will become effective at 12:01 a.m. on January 25, 2016.
Ex-distribution trading of the NexJ Shares will commence on the TSX at the opening of trading on January 20, 2016. Investors who enter into trades to purchase NexJ Shares on or after January 20, 2016 will not be entitled to receive Newco Shares.
As a result of the Arrangement, Newco will become a reporting issuer in all of the provinces and territories of Canada and become subject to the continuous disclosure requirements and other reporting requirements under Canadian securities laws. It is not anticipated that the Newco shares will be listed on any stock exchange.
Additional information regarding the terms of the Arrangement are set in the Circular, which is available under the NexJ profile on SEDAR at www.sedar.com.
About NexJ Systems Inc.
NexJ provides enterprise customer management solutions to the financial services industry and a population health management platform to the healthcare industry.
Our Financial Services solutions include industry-specific customer relationship management (CRM) for multi-channel engagement and collaboration; customer process management (CPM) for client onboarding and KYC; and customer data management (CDM) to deliver a holistic view of customers across line of business and regional data silos. Our solutions integrate information from multiple systems into a unified view to help firms better understand and share information about their customers to increase loyalty, drive cross-sell and improve the customer experience.
In Healthcare, our cloud-based platform for population health management delivers patient engagement for chronic disease management. It is based on research and proven at trial. By engaging and empowering patients to better manage their health and wellness, patients are more likely to achieve their health goals, payers can lower costs, providers can achieve better patient outcomes, and pharmaceutical manufacturers and pharmacies can improve medication adherence and build loyalty.
Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail email@example.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, like us on Facebook or hang out with us on Google+.
NexJ Forward-looking Statement
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws, including. These statements are based on NexJ's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. NexJ's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see NexJ's securities filings with the OSC and other securities regulators. NexJ securities filings are available on www.sedar.com. Unless otherwise required by applicable securities laws, NexJ disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE NexJ Systems Inc.
For further information: Matthew Bogart, Senior Director, Corporate Communications, NexJ Systems Inc., 416-227-3708, Matthew.firstname.lastname@example.org