/NOT FOR DISTRIBUTION IN THE UNITED STATES/
TORONTO, Jan. 25, 2016 /CNW/ - NexJ Systems Inc. (TSX: NXJ), a provider of enterprise customer management solutions to the financial services industry, and NexJ Health Holdings Inc. today announced the successful completion of the previously announced Plan of Arrangement of NexJ Systems pursuant to which NexJ Systems spun out the Healthcare business unit to NexJ Health Holdings.
NexJ Systems shareholders now own one new Common Share of NexJ Systems and one Common Share of NexJ Health Holdings for each Common Share of NexJ Systems held immediately prior to the Arrangement becoming effective.
With the completion of the Arrangement, the Common Shares of NexJ Systems will continue to trade on the Toronto Stock Exchange under the symbol "NXJ". As a result of the Arrangement, NexJ Health Holdings has become a reporting issuer in all of the provinces and territories of Canada. The Common Shares of NexJ Health Holdings are not listed on any stock exchange and it is not anticipated at this time that the Common Shares of NexJ Health Holdings will be listed on any stock exchange following the date hereof.
"The spin-off of the healthcare business from our finance business provides a clear path for both operations to pursue their strategic objectives independently," says William M. Tatham, Chief Executive Officer of NexJ Systems and Executive Chairman of NexJ Health Holdings. "We would like to thank all stakeholders including current and prospective customers, shareholders and employees for their support of this strategic initiative."
NexJ Systems has completed a number of initiatives to drive profitable growth including:
- Introducing new products, Customer Process Management and Customer Data Management
- Expanding into new markets to include Corporate and Commercial Banking as well as Capital Markets
- Entering new geographies including Europe and Asia Pacific
- Engaging in strategic partnerships to further scale our delivery capabilities
"NexJ Systems customers are leading global financial services firms. Having executed several strategic initiatives that are already paying dividends we will continue to focus on profitable growth," says Rick Broley, Chief Operating Officer of NexJ Systems.
NexJ Health, which is now wholly-owned by NexJ Health Holdings, recently entered the commercialization phase with NexJ Connected Wellness, a solution based on research and proven at trial. The projects NexJ Health is working on further demonstrate the value of the platform while the opportunities currently being presented have the potential to dramatically accelerate the growth of the business.
"Separating into a distinct company is a strategic move that creates exciting opportunities for NexJ Health," says Gary Baksi, Executive Vice President and General Manager of NexJ Health. "The projects before us today would not only begin the transformation of our business but the healthcare system at home and abroad."
NexJ Health Holdings expects to raise capital to fund further development of the platform and to deliver its next generation product to market.
Any securities to be offered or sold have not been and will not be registered under the U.S. Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About NexJ Systems Inc.
NexJ Systems provides enterprise customer management solutions to the financial services industry. Our 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.
Based in Toronto, NexJ Systems has clients throughout North America, Europe and Asia Pacific. For more information about NexJ Systems visit www.nexj.com, e-mail [email protected], 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+.
About NexJ Health Holdings Inc.
NexJ Health Holdings, through it's wholly-owned subsidiary, NexJ Health, offers a cloud-based platform for population health management platform that 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, we believe that 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.
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws, including, without limitation, statements regarding the realization of the anticipated benefits of the arrangement. These statements are based on NexJ Systems' and NexJ Health Holdings' current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which each 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. These assumptions, although considered reasonable by each 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 Systems' securities filings with the OSC and other securities regulators, including the management information circular of NexJ Systems dated December 14, 2015. NexJ Systems' securities filings are available on www.sedar.com. Unless otherwise required by applicable securities laws, NexJ Systems and NexJ Health Holdings 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, [email protected]