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Medworxx Announces Letter of Intent to Acquire HealthCast Inc.
TORONTO, July 3 /CNW/ - Medworxx Solutions Inc., (TSX-V: MWX), the makers of a strategic software...
About this update from Regenx Tech Corp
[{"type":"text","content":"\n\n\n\nTORONTO, July 3 /CNW/ - Medworxx Solutions Inc., (TSX-V: MWX), the makers\nof a strategic software platform that hospitals use to communicate, aggregate,\nand analyze knowledge, announced that it has issued a Letter of Intent (LOI)\nto acquire all of the issued and outstanding stock of HealthCast Inc. of\nBoise, Idaho, the leading provider of enterprise access management and single\nsign-on solutions for hospitals.\n\n\nThe acquisition will be accretive to Medworxx upon closing. The products\nand companies have customer proven strong synergistic value.\n\n\nHealthCast has focused on integrating diverse hospital systems to give\nphysicians and nurses secure access to information and more time to care for\ntheir patients. Combining HealthCast's clinical desktop manager with Medworxx'\nknowledge-management solutions creates a unique platform for hospitals to\ncapture new benefits from their current system investments. In today's\nenvironment, the power of the combined offering will help hospitals achieve\ntheir most critical goals - patient privacy, data security, knowledge\nmanagement, workforce satisfaction and employee productivity", said Joan Mehn,\nCEO, HealthCast.\n\n\nThe Medworxx web-based knowledge management platform combined with the\nHealthCast integration and single sign-on platform will provide both nurses\nand physicians with the ability to seamlessly access their applications,\nknowledge and data in a simple way. This is a big issue in hospitals today.\n"Medworxx' growth strategy is focused on a combination of organic growth and\nacquisitions. HealthCast will be the 3rd acquisition for Medworxx since its\ninception in 2004. We know that the HealthCast products will be attractive to\nthe Medworxx customers and we know the Healthcast customers will want the\nMedworxx products. The value will be easily recognized by our combined install\nbase and the expectation is that this will increase sales volume in a rapid\nfashion", said Dan Matlow, President & CEO, Medworxx. "The combined company\nwill have over 115 customers representing more than 300 hospitals across North\nAmerica, providing strong up-sell opportunity.\n\n\nThe purchase transaction will be a combination of cash and shares.\nMedworxx will issue 14,231,461 shares for the 9,551,316 common shares of\nHealthCast Inc. In addition, 1...