MARKHAM, ON, Oct. 1 /CNW/ - Nightingale Informatix Corporation ("Nightingale" or the "Company") (TSX-V: NGH), an application service provider (ASP) of electronic medical record (EMR) software and related services, has again ranked among the Deloitte Technology Fast 50(TM), a ranking of the 50 fastest growing technology companies in Canada, based on the percentage of revenue growth over five years. Nightingale's increase in revenues of 3376 percent from 2004 to 2008 resulted in an 11th place ranking.
"Nightingale is proud to once again be named among the top technology growth companies in Canada," said Sam Chebib, President and CEO of Nightingale. "Our combined focus on technology leadership and on strong customer partnerships is critical to our success in a market that continues to experience tremendous growth, driven by government initiatives and societal transformation. This is an excellent time to be in the healthcare IT market."
For over 12 years, the Deloitte Technology Fast 50(TM) program has tracked the successful growth of Canadian-grown global leaders. Now Canada's pre-eminent technology award program, the Deloitte Technology Fast 50(TM) augments the broader Deloitte North American Technology Fast 500 initiative, with winners automatically eligible for this elite ranking.
"Canadian technology companies have demonstrated some very impressive growth numbers over the past year, amid the challenges of a global recession," said John Ruffolo, National Leader, Technology,
Media & Telecommunications Industry Group, Deloitte. Nightingale is an example of the determination, drive and skill that will serve to position them for further growth and success as the economic recovery takes hold."
To qualify for the Deloitte Technology Fast 50(TM) ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluates and judges companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.
Nightingale is one of the fastest growing health care service and software companies in North America with over 5.3 million patient records under management in a hosted (ASP) environment. It is recognized as an industry leader in Web-based clinician and community based electronic medical records (EMR) serving the needs of small primary care practices, multi-physician outpatient clinics, and large scale regional health organizations and networks. Coupled with integrated practice management, transcription and revenue cycle management, Nightingale's comprehensive service offering allows customers to enhance patient care, increase revenue opportunities and optimize operations. Nightingale is continuously innovating and enhancing its services to meet the needs of its growing and diverse customer base. Nightingale - Healthcare connected. www.nightingale.md
About the Deloitte Technology Fast 50(TM) - The Deloitte Technology Fast 50(TM) program is Canada's pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features four distinct categories including the Technology Fast 50(TM) Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50(TM) candidate,) Leadership Awards (companies that demonstrate technological leadership in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies) and the Deloitte Technology Green 15(TM) Awards (Canada's leading GreenTech companies that promote a more efficient use and re-use of the earth's resources in industrial production and consumption.) Program sponsors include Deloitte, Gowlings, GrowthWorks, RBC, Wellington Financial, Stonewood Group, HKMB Hub, CATAAlliance, CleanTech Group, IGLOO, ITAC, MaRS and Microsoft. For further information, visit www.fast50.ca.
Forward Looking Statement
This press release contains "forward-looking statements" respecting the issuance and cancellation of securities of the Company within the meaning of applicable Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward- looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "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 are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Nightingale to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the speculative nature of the medical software industry, which is affected by numerous factors beyond Nightingale's control; the ability of Nightingale to successfully integrate its acquisitions and any liabilities arising as a result of such acquisitions, access to capital and agreements with its Lenders; the existence of present and possible future government regulation; the significant and increasing competition that exists in the medical software industry; the early stage of Nightingale's business; and therefore it is subject to the risks associated with early stage companies, including uncertainty of revenues, markets and profitability and the need to raise additional funding. All material assumptions used in making forward-looking statements are based on management's knowledge of current business conditions and expectations of future business conditions and trends. Although management believes the assumptions used to make such statements are reasonable at this time, our assumptions may not to be as anticipated, estimated or intended. Certain material factors or assumptions applied by management in making forward-looking statements, include without limitation, factors and assumptions regarding Nightingale's continued ability to fund its business, rates of customer defaults, relationships with, and payments to, lenders, demand for Nightingale's products, as well as Nightingale's operating cost structure.
Although Nightingale has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such 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. Nightingale does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws. Further information on Nightingale Informatix Corporation is available at www.sedar.com.
Neither the 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.
SOURCE Nightingale Informatix Corporation
For further information: For further information: Michael Ford, CFO, Nightingale Informatix Corporation, Tel: (905) 307-7870, firstname.lastname@example.org; Alan Kriss, VP Marketing, Nightingale Informatix Corporation, Tel: (905) 307-6863, email@example.com