MILTON, ON, June 8 /CNW/ - Systems Xcellence Inc. ("SXC") (TSX: SXC), a
leading provider of healthcare information technology solutions throughout the
pharmaceutical supply chain, announces a $5.0 million multi-year software
license agreement with Emergis Inc. (TSX: EME) to deploy a comprehensive,
province-wide drug information system ("DIS") solution in Newfoundland and
Labrador. All figures are in U.S. dollars.
Under terms of the agreement, SXC will provide software applications and
related integration services to help establish the DIS solution in
Newfoundland and Labrador. The implementation phase of the solution is
expected to take approximately two years. SXC will also provide seven years of
maintenance and support for its applications.
"We are pleased to have the opportunity to support Emergis and the
province in their effort to improve the quality of health care and patient
safety for the citizens of Newfoundland and Labrador," said Mike Bennof, SVP
Public Sector at SXC. "This agreement expands the presence of our Canadian
Health solutions into another province and we look forward to exploring
opportunities to participate in other DIS solutions across Canada."
The Newfoundland and Labrador Pharmacy Network is a provincial DIS that
will offer on-line, real-time province-wide medication profiles for everyone
who receives medications in the province, as well as comprehensive drug
information and an interactive database that will assist pharmacists and
physicians in identifying potential adverse drug interactions and events.
The software applications provided by SXC form the core health record
transaction processing portion of the Emergis DIS solution, enabling essential
ePrescribing (Prescription and Dispense record keeping) functions and proven
electronic Drug Utilization Review services. The software will utilize the
pan-Canadian Electronic Drug ("CeRx") Messaging Standard established under the
leadership of Canada Health Infoway. Based in HL7 Version 3, CeRx will ensure
the reusability and interoperability of the software in other jurisdictions of
Canada.
The DIS solution is an important component of the electronic health
record (EHR) that governments throughout Canada will be deploying in the
coming years. Canada Health Infoway Inc. invests with public sector partners
across Canada to implement and reuse compatible health information systems
that support a safer, more efficient healthcare system. Infoway's mission is
to foster and accelerate the development and adoption of electronic health
information systems with compatible standards and communications technologies
on a pan-Canadian basis, with tangible benefits to Canadians.
About Systems Xcellence
Systems Xcellence (SXC) is a leading provider of healthcare information
technology solutions and services to the healthcare benefits management
industry. The Company's product offerings and solutions combine a wide range
of software applications, application service provider (ASP) processing
services and professional services, designed for many of the largest
organizations in the pharmaceutical supply chain, such as Federal, provincial,
and, state and local governments, pharmacy benefit managers, managed care
organizations, retail pharmacy chains and other healthcare intermediaries. SXC
is headquartered in Milton, Ontario with offices and processing centres in
Lombard, Illinois; Scottsdale, Arizona; Warminster, Pennsylvania; and
Victoria, British Columbia. For more information, please visit www.sxc.com.
Forward-Looking Statements
Certain statements included herein, including those that express
management's expectations or estimates of our future performance, constitute
"forward-looking statements" within the meaning of applicable securities laws.
Forward-looking statements are necessarily based upon a number of estimates
and assumptions that, while considered reasonable by management at this time,
are inherently subject to significant business, economic and competitive
uncertainties and contingencies. We caution that such forward-looking
statements involve known and unknown risks, uncertainties and other risks that
may cause our actual financial results, performance, or achievements to be
materially different from our estimated future results, performance or
achievements expressed or implied by those forward-looking statements.
Numerous factors could cause actual results to differ materially from those in
the forward-looking statements, including without limitation, our ability to
achieve increased market acceptance for our product offerings and penetrate
new markets; consolidation in the healthcare industry; the existence of
undetected errors or similar problems in our software products; our ability to
identify and complete acquisitions, manage our growth and integrate
acquisitions; our ability to compete successfully; potential liability for the
use of incorrect or incomplete data; the length of the sales cycle for our
healthcare software solutions; interruption of our operations due to outside
sources; our dependence on key customers; maintaining our intellectual
property rights and litigation involving intellectual property rights; our
ability to obtain, use or successfully integrate third-party licensed
technology; compliance with existing laws, regulations and industry
initiatives and future change in laws or regulations in the healthcare
industry; breach of our security by third parties; our dependence on the
expertise of our key personnel; our access to sufficient capital to fund our
future requirements; and potential write-offs of goodwill or other intangible
assets. This list is not exhaustive of the factors that may affect any of our
forward-looking statements. Investors are cautioned not to put undue reliance
on forward-looking statements. All subsequent written and oral forward-looking
statements attributable to SXC or persons acting on our behalf are expressly
qualified in their entirety by this notice. We disclaim any intent or
obligation to update publicly these forward-looking statements, whether as a
result of new information, future events or otherwise. Risks and uncertainties
about our business are more fully discussed in our Annual Information Form.
Certain of the assumptions made in preparing forward-looking information
and management's expectations include: maintenance of our existing customers
and contracts, our ability to market our products successfully to anticipated
customers, the impact of increasing competition, the growth of prescription
drug utilization rates at predicted levels, the retention of our key
personnel, our customers continuing to process transactions at historical
levels, that our systems will not be interrupted for any significant period of
time, that our products will perform free of major errors, our ability to
obtain financing on acceptable terms and that there will be no significant
changes in the regulation of our business.
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