NexgenRx Announces Expansion of Leadership Team

Addition of two senior executives, John Gray and Mark Payne to the leadership team signals continued focus on technology operations and strategic innovation partnerships

TORONTO, ON / ACCESSWIRE / August 24, 2021 / NEXGENRX INC. ("NexgenRx" or the "Company") is pleased to announce the addition of two new leaders to its management team: John Gray, Vice-President, Strategic Growth Opportunities, and Mark Payne, Vice-President, IT.

John Gray joins the Company from Green Shield Canada, where he managed strategic planning across the organization, leading a national team responsible for large-client acquisition, new partnerships, and revenue growth. At NexgenRx, John will be responsible for facilitating strategic innovation partnerships in a rapidly evolving benefits landscape.

Mark joins the Company from Express Scripts Canada, where he designed and implemented large-scale benefits services and adjudication systems for industry leaders, including Manulife Financial, Desjardins Security Financial, and Industrial Alliance. Mark's expertise in managing large technology teams will add considerable weight to NexgenRx's technology-driven approach to benefits management. Mark will be responsible for day-to-day technology operations, including growing the team to meet the rapidly evolving needs of NexgenRx's clients.

"The addition of John Gray and Mark Payne to our team deepens our leadership bench strength and highlights our priorities in technology operations and innovation as key differentiators of our client service model. As the only fully independent full-service TPA with proprietary claims adjudication and full front-end administration capabilities, we are cementing our leadership position and committing to building new partnerships with organizations and innovators who understand that sophisticated benefits technology is the key to client success and competitive costs" said Ron Loucks, Founder, President and CEO, NexgenRx."

NexgenRx core technology, including the web-portal theclaimsXchange.com and neXmobile®, enables greater client flexibility and control over benefits plans through real-time claims adjudication, high-speed claims processing, proactive benefits management, and simplified eligibility and enrollment administration.

"The high functionality of NexgenRx's core technology is a key driver of the Company's success" said John Gray, Vice-President Strategic Growth Opportunities, NexgenRx. "Now more than ever, clients are seeking greater control over their benefits administration coupled with a seamless member experience. Rapid virtualization is transforming the benefits space, and I look forward to building on the Company's strong technology foundations through new partnerships and developments to ensure that we continue to meet the needs of our growing clients" added Gray.

"The technology operations team is integral to our success in ensuring a robust and scalable infrastructure that can accommodate increased volume for all our clients. Joining NexgenRx provides an opportunity to grow and manage a team that has a direct impact on the Company's success." said Mark Payne, Vice-President IT, NexgenRx.

NexgenRx continued its record growth in both EBITDA and net profit from 2020, producing continued positive financial results for Q1 and Q2. Throughout the pandemic, the Company's team has continued to operate effectively and safely, further lowering operating expenses while still providing excellent customer service and experience.

About NexgenRx

NexgenRx is Canada's only independent full-service Third-Party Administrator and Technology Solutions Provider, offering proprietary full front-end, eligibility, enrolment, hour bank and mobile access capabilities, together with state-of-the-art claims adjudication and full provider network coverage. These combined capabilities allow NexgenRx to provide Plan Sponsors, sophisticated administration and health benefit technology applications in a cost-effective SaaS (Software as a Service) Model.

NexgenRx is committed to building partnerships with organizations looking to exceed the expectations of their clients and plan members and deliver superior administration and claims processing solutions at a competitive cost. More information on NexgenRx can be found at www.nexgenrx.com.

Caution Regarding Forward-Looking Statements

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although management believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. The Company cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether the Company's strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for existing and new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; continued development and enhancement of the Company's proprietary software technology; cyber security risks and the other risks and uncertainties disclosed in the Company's annual Management's Discussion and Analysis, as filed under the Company's profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. The Company undertakes no duty to update any of the forward-looking information to conform such information to actual results or to changes in the Company's expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Ronald C. Loucks
NexgenRx Inc.
President and CEO
416-695-3393 x801

Kelly Ehler CPA, CA
NexgenRx Inc.
Chief Financial Officer
416-695-3393 x803

SOURCE: NexgenRx Inc.