Update on Healthscreen's Debt Facility
May 18 2011 - 3:57PM
Marketwired Canada
Healthscreen Solutions Inc. ("Healthscreen") (TSX VENTURE:MDU), Canada's premier
provider of physician practice enhancement services and electronic medical
record ("EMR") software, announces that its debt of $ 4.8 million with
Wellington Financial came due May 15, 2011. The company is working with its
lender and expects to come to an agreement very shortly with regards to a path
forward.
"The company is pursuing a number of solutions and expects the situation to be
resolved in the July to September 2011 period" noted Mr. Stewart Davis,
Healthscreen President and CEO.
About Healthscreen Solutions Inc.:
Healthscreen Solutions Inc. (www.healthscreen.com) provides a comprehensive
suite of practice enhancing products and services to increase physician
productivity and revenue while reducing costs and improving patient care. The
Company's portfolio includes billing and scheduling software, electronic medical
records software, CallerMD which assists physicians in managing a range of
uninsured medical services, PrevCareMD which helps physicians earn supplemental
income by achieving government-set preventive care targets and HealthAlert which
allows physicians to help their patients in managing complex healthcare issues.
Healthscreen's services and software are used by over 5,000 full-time physicians
who are responsible for the health care of more than five million Canadians.
Disclaimer: Forward Looking Statements
This press release contains information that is forward looking information with
respect to Healthscreen within the meaning of Section 138.4(9) of the Ontario
Securities Act and other applicable securities laws. In some cases,
forward-looking information can be identified by the use of terms such as "may",
"will", "should", "expect", "plan", "anticipate", "believe", "intend",
"estimate", "predict", "potential", "continue" or the negative of these terms or
other similar expressions concerning matters that are not historical facts. In
particular, statements about future revenues or profitability, including the
estimated timing of profitability, and any other statements regarding
Healthscreen's future expectations, beliefs, goals or prospects are or involve
forward-looking information.
Forward-looking information is based on certain factors and assumptions. While
the Company considers these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect. Forward-looking
information, by its nature necessarily involves risks and uncertainties,
including risks and uncertainties relating to government regulation and funding
in the healthcare industry, financial and capital market risks, technology
development and adoption, Healthscreen's ability to maintain its competitive
position and effectively implement it's acquisition strategy, liability for
software malfunction, management of growth, and length of sales cycles.
Additional risks and uncertainties affecting Healthscreen can be found in
Healthscreen's 2010 Annual Report and Management's Discussion and Analysis for
the Fiscal Year ended September 30, 2010 filed on SEDAR at www.sedar.com. If any
of these risks or uncertainties were to materialize or if the factors and
assumptions underlying the forward-looking information were to prove incorrect,
actual results could vary materially from those that are expressed or implied by
the forward-looking information contained herein. Readers are cautioned not to
place undue reliance on these forward-looking statements that speak only as of
the date hereof. Trading in the securities of Healthscreen should be considered
highly speculative.
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