Medworxx Solutions Inc. (TSXV: “MWX”) (“Medworxx” or the “Corporation”)
announced today that after the completion of a formal selection process
by the special committee formed to examine and consider strategic and
financial alternatives available to the Corporation (the “Special
Committee”), the Corporation has retained the services of New-York based
Berkery, Noyes & Co., LLC (“BNC”) as its advisor as it explores
strategic alternatives to maximize shareholder value.
“The BNC healthcare advisory team has extensive experience in the
Healthcare IT sector on an international basis that will be valuable as
we explore alternatives to maximize shareholder value”, said George
Elliott, a director and Chairman of the Corporation’s Special Committee.
Strategic and financial alternatives pursued with BNC may include, but
are not limited to, the sale of the Corporation, acquisitions by the
Corporation, merger or other business combination, recapitalization,
sale of all or a portion of the Corporation’s assets, or any combination
thereof, as well as continued execution of its business plan, among all
other alternatives.
It is the Corporation’s current intention not to disclose developments
with respect to the strategic review process until the Board of
Directors has approved a specific transaction or otherwise determines
that disclosure is necessary or appropriate. Medworxx cautions that
there are no assurances or guarantees that the process will result in a
transaction or, if a transaction is undertaken, the terms or timing of
such a transaction.
About Medworxx
Medworxx delivers
health information solutions to over 350 hospitals internationally;
including Canada, United States and United Kingdom. Medworxx helps
hospitals meet patient flow challenges and requirements in compliance
and education. Medworxx Clinical Criteria– flagship of Medworxx Patient
Flow that includes electronic bed board and independent assessment
components – currently serves over 34% of the acute care beds in Canada.
Founded in 2004, Medworxx is based in Toronto, Ontario and publicly
traded on the TSX Venture Exchange: MWX. Visit: www.medworxx.com
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Forward Looking Statements Disclaimer
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 “recurring” 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.
Copyright Business Wire 2015