TORONTO, Oct. 16 /CNW/ - Medworxx Solutions Inc., (TSX-V: MWX), the makers of a strategic software platform that hospitals use to communicate, aggregate, and analyze knowledge, announced that it is no longer planning to acquire HealthCast Inc. of Boise, Idaho. Instead, Medworxx is pursuing a strategic alliance with HealthCast, a leading provider of enterprise access management and single sign-on solutions for hospitals.
As a result, Medworxx also announced that it will not be completing the $4.2 Million Private Placement that was announced in July. Medworxx had engaged Loewen, Ondaatje, McCutcheon Limited to lead a brokered private placement to raise, on a best efforts agency basis, up to $4.2 million through the issuance of Units.
About Medworxx:
Founded in 2004 and publicly traded on the TSX Venture Exchange, Medworxx makes a strategic software platform that hospitals use to communicate, aggregate, and analyze knowledge. Headquartered in Toronto, Ontario, Medworxx products are used by more than 400,000 people at over 250 hospitals across North America. Medworxx: our market is healthcare, our vertical is knowledge.
This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "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" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, such as competition, technological changes, the changing needs of hospitals, the financial condition of the Company's current and potential customers, foreign currency exchange rates, as well as general economic conditions, which may cause the actual results, performance or achievements of the Corporation and Medworxx to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. There can be no assurance that forward-looking 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.
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