MARKHAM, ON, March 23, 2015 /CNW/ - Nightingale Informatix Corporation ("Nightingale" or the "Company") (TSX-V: NGH), a cloud-based provider of electronic health record (EHR) software and related services, today announced a limited commercial release of Nightingale Version 10 (v10) for the purpose of migrating its US client base currently using its Medrium practice management product.
"The commercial release of Nightingale v10 is another substantial milestone for our valued Customers and the Company" said Sam Chebib, President and CEO of Nightingale. "This release is targeted to migrate our Medrium client base and will be generally available to other US physicians and Revenue Cycle Management businesses to automate the business management components of their practices. Our next generation product, v10, builds on Nightingale's 12 years of experience and is based upon a state of the art technology platform. Well in advance of the October 1, 2015 deadline for the transition from ICD-9 to ICD-10 codes, Nightingale v10 Practice Management has completed end-to-end testing with US payers including dual coding (ICD-9 and ICD-10). v10 provides robust functionality through a clean, intuitive interface providing improved productivity, efficiency and effectiveness to users."
Over the past several months, Nightingale v10 has been piloted and demonstrated to existing clients and the migration of several hundred users to our next generation product has commenced.
"We continue to believe that the North American EMR market is crowded with legacy products and that Nightingale v10 has clear differentiators that will separate it from first and second generation products in the market today" added Chebib. "Over the past 30 months we have proactively invested over $15 million to design and build Nightingale v10 with input from our customers and the market at large. The feedback from both current and prospective users is extremely positive and very encouraging."
Nightingale is also planning the next release of v10 in the summer of 2015. This will be available to all Canadian and US clients including its 20,000 valued users who manage 18 million patient records on its current platforms. The Company is also confident those who have not yet selected an EMR and those who are looking for a third generation EMR will find considerable value in Nightingale v10.
For more than a decade, Nightingale (TSX-V: NGH) has been delivering innovative cloud-based Electronic Health Record (EHR) and Practice Management solutions to healthcare organizations across the United States and Canada. Our goal is to uncomplicate the day-to-day challenges of healthcare providers. We achieve this by creating software that is truly intuitive—minimizing training and maximizing adoption. We believe so strongly in building easy-to-use software that we structured our entire product team around user-centric design. Our clients are benefiting from this focus through a well-supported and robust solution that presents a holistic view of a person's well-being in a simple, clean interface, so that the best health decisions can be made. Nightingale – One Patient. One Record. www.nightingalemd.com
Forward Looking Statement
This press release contains "forward-looking statements" respecting the issuance and cancellation of securities of the Corporation 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", "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", "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 secure customer contracts and the timing of securing such contracts; the ability of Nightingale to complete and successfully integrate its acquisitions on an accretive basis, Nightingale's access to debt and capital facilities, including compliance with current debt arrangements; the existence of present and possible future government regulation; the significant competition that exists in the medical software industry; the early stage of Nightingale's business, and 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. Certain material factors or assumptions applied by management in making forward-looking statements, include without limitation, factors and assumptions regarding future trends in healthcare spending, economic conditions affecting Nightingale and North American economies; Nightingale's ability to continue to fund its business, rates of customer defaults, relationships with, and payments to lenders, 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: David Toews, CFO, Nightingale Informatix Corporation, Tel: 905-943-2600, [email protected]; Sam Chebib, CEO, Nightingale Informatix Corporation, Tel: 905-943-2611, [email protected]