MARKHAM, ON, March 25, 2013 /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, announced the appointment of Mr. Peter Cauley as Chief Financial Officer (CFO), effective April 1, 2013. He will be succeeding Mr. Michael Ford.
"Peter is a seasoned technology industry veteran with more than 30 years of financial and operational experience," said Sam Chebib, President and CEO of Nightingale. "He has spent his career at several private and public technology companies, ranging in size from $25 million to $100 million. With his technology industry background, capital markets experience, and success managing businesses with operations in Canada and the United States, he is an ideal fit for Nightingale. We are excited to welcome him to the team."
Over the span of his career, Mr. Cauley has held a series of senior financial positions at innovative and successful technology companies. Prior to joining Nightingale, Mr. Cauley was VP Finance at ERP software company, Solarsoft Business Systems, where through implementing new processes and systems, he helped to significantly improve the financial performance of the overall organization. Before Solarsoft, Mr. Cauley was COO and CFO of BorderWare Technologies Inc., a provider of email and web secure content management solutions. Mr. Cauley also served as CFO of real-time data replication and protection solutions company, DataMirror Corporation, which was TSX-listed prior to its sale to IBM. Mr. Cauley held the position of CFO at DataMirror Corporation for more than 12 years, spanning from the company's initial public offering, several subsequent financings and acquisitions through to its sale. At DataMirror, he played a key role in achieving consistent profitability, through cost control measures and the implementation of strategic pricing models. Prior to DataMirror, Mr. Cauley held senior financial positions with two privately-held technology companies. Mr. Cauley is a Chartered Accountant and holds a Bachelor of Arts, Financial Studies from the University of Western Ontario.
"I would like to thank Michael for his hard work and dedication to the success of Nightingale," Mr. Chebib added. "He was instrumental in integrating the operations of our acquisitions and exiting low-margin, non-core business lines. He also managed a smooth transition to International Financial Reporting Standards (IFRS) and completed a refinancing of the Company's debt. The Board of Directors joins me in wishing Michael success with his future endeavors."
Nightingale is one of the fastest growing health care service and software companies in North America and 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.nightingalemd.com
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", "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:
Sam Chebib, CEO
Nightingale Informatix Corporation
Kristen Dickson, Vice President
Tel: 416-815-0700 ext. 273