TORONTO, Aug. 16 /CNW/ - MedcomSoft Inc. (TSX-MSF) announced today that
it has received total proceeds of $1,102,660 from the exercise of 1,696,400
common share purchase warrants at an exercise price of $0.65 per common share.
These common share purchase warrants were originally issued as part of a
rights offering on February 10, 2005 and as part of a private placement on
February 11, 2005. The total number of common share purchase warrants
exercised represents approximately 73% of the outstanding common share
purchase warrants whose expiry was extended to 5:00 pm E.S.T. August 15, 2007.
All of the holders of the warrants were at arm's length to MedcomSoft.
About MedcomSoft Inc.: Founded in 1994, MedcomSoft Inc. develops cutting
edge software solutions for the healthcare industry, including its fully
integrated Electronic Health Record (EHR) and practice management solution,
MedcomSoft(R) Record. MedcomSoft has pioneered the use of numerically codified
point-of-care clinical terminologies to create a new generation of highly
interoperable EHRs. By enabling the collection, exchange and aggregation of
numerically codified clinical information, MedcomSoft(R) Record will
significantly enhance disease surveillance and accelerate clinical research.
MedcomSoft has proven its technology in both small and large installations and
is the Preferred Vendor for ABC (the Association of Black Cardiologists with
450 US members), IPN (the Independent Physicians Network of Milwaukee with
over 1,000 members), and other organizations. The Company has achieved strong
growth in license sales year over year while MedcomSoft Record 2006 placed
first in KLAS' Ambulatory EMR 1-5 Physicians Category in the 2007 Mid-Year
Report, and has received a 5-STAR rating from the AC Group, Inc.
This news release contains forward-looking statements regarding
MedcomSoft's expectations and beliefs with respect to future events and/or
financial performance. These forward-looking statements involve known and
unknown risks, uncertainties and other factors, which may cause the actual
events or results to differ materially from those expressed or implied in such
forward-looking statements. Such factors and risks include, but are not
limited to, market conditions, competition including price and product
functionality; economic environment; and the ability to develop and deliver
new products in a timely manner. The reader is referred to the documents that
the Company files from time to time with applicable Canadian securities and
regulatory authorities for a discussion on certain risks and uncertainties
that could cause actual results to differ from those projected, anticipated or
implied. MedcomSoft does not undertake to update forward-looking statements.
For further information:
For further information: Paul Davis, Chief Operating Officer, MedcomSoft
Inc., Phone: (877) 673-0101, Fax: (416) 443-9693, www.medcomsoft.com