KELOWNA, BC, Aug. 2, 2012 /CNW/ - (TSX-V: QHR) QHR Technologies Inc. ("QHR" or the "Company"), a leader in the Canadian
Healthcare Information Technology sector, is pleased to announce that
Open EC Technologies Inc. ("OEC") (TSX-V: OCE), applied to the Supreme
Court of British Columbia on July 27, 2012 and obtained an interim
order providing, among other things, for the calling and holding of the
annual and special meeting of the shareholders of Open EC (the
At the Meeting, the shareholders of Open EC will be asked to approve an
arrangement agreement between QHR and Open EC providing for the
acquisition by QHR of all of the outstanding securities of Open EC (the
"Arrangement"), such that Open EC will become a wholly-owned subsidiary
of QHR. Open EC has mailed its information circular for the Meeting to
its shareholders and has filed the information circular on SEDAR on
August 1, 2012.
Open EC expects to hold the Meeting on September 6, 2012. Upon
obtaining approval of the Arrangement by the shareholders of Open EC at
the Meeting, QHR and OEC will make an application to the Supreme Court
of British Columbia for a final order approving the Arrangement on
September 7, 2012.
On behalf of the Board of Directors
About QHR Technologies Inc.
QHR operates two business units in distinct 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 EMR division also provides
on-site and off-site (ASP) hosting capabilities.
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 environments.
About Open EC
Open EC Technologies is an e-Business Information Technology company
with our corporate head office, marketing and development in Vancouver,
BC, main HealthCare IT Solutions Operations office in San Antonio,
Texas and Medical Practice Billing Operations office in Spring Hill,
Florida. The company has software development and data center hosting
operations in Maine, with Sales and Executive Management staff in
The Company's focus is to provide software solutions and transaction
processing services to assist Physicians, Hospitals, Health Plans,
Insurance Brokers and State Governments to exchange information for
HIPAA EDI Health Plan Enrolment, Health Insurance Eligibility, Health
Insurance Claims, Claim Payments and HealthCare Provider Collaboration
of supporting patient referral and industry compliance/reporting
Additional product and solution information is available on the web at www.SoftCareHealthcare.com, www.iPlexus.net and www.softcare.com and additional public company information is available on the web at www.openec.com. The Company's common shares trade on the TSX Venture Exchange under
the symbol: OCE
Legal Notice Regarding Forward Looking Statements
This news release may contain "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 statements. Forward looking statements in this news
release may include those concerning the anticipated meeting date.
Risks that may prevent, delay or frustrate our objectives expressed in
any of these forward looking statements include the risks inherent in
transactions of this nature, including the risks that the British
Columbia Supreme Court or the Open EC shareholders do not approve the
transaction when asked to do so and the risk that the transaction does
not complete for other reasons, including failure of a condition, lack
of capital and similar risks. It is our policy not to update forward
looking statements except to the extent required under applicable
securities laws. Further information on the Company is available at www.sedar.com or at the Company's website, www.QHRtechnologies.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: QHR Technologies Inc.
For further information:
Al Hildebrandt, President & CEO
Jerry Diener, Chief Financial Officer