(COMTEX) B: NHXS Sells Assets to Gateway EDI ( Marketwire )
B: NHXS Sells Assets to Gateway EDI ( Marketwire )
Reliable? Company has some bad history I think
SACRAMENTO, CA, Jun 25, 2012 (MARKETWIRE via COMTEX) --
NHXS (PINKSHEETS: NHCR) today announced that it has sold
substantially all of the Company's assets to Gateway EDI, LLC for
$8,206,000 of which $1,238,000 will be paid 18 months and $454,000
will be paid after 24 months after the close. The future payments may
be subject to adjustment. The sale was completed on May 11, 2012.
Gateway EDI is a wholly owned subsidiary of The TriZetto Group, Inc.
GatewayEDI had been a licensee of NHXS solutions for more than two
years and the acquisition was a good fit between the companies. "This
was the right time to get the best return to the shareholders and
give NHXS a strong strategic and capital partner to grow the service
offering in the market," said Mark Rieger, CEO of NHXS.
In addition, the Company announced that in light of the sale of
substantially all of the Company's assets, the Board of Directors has
determined that it is in the best interests of the Company and its
stockholders to liquidate and dissolve the Company. The Company's
Board of Directors has unanimously approved a Plan of Liquidation and
Dissolution of the Company which was approved by holders owning a
majority of the Company's outstanding shares of common stock. The
Company intends to dissolve effective June 29, 2012, at which time it
will cease existence. Further, as a result of the sale of the assets
of the Company, the Company intends to make a liquidating
distribution of $0.088 per share to shareholders of record as of the
date of dissolution.
This press release includes "forward-looking statements." Such
statements may include, but are not limited to, statements about
payments that may be received in the future, the timing of when the
Company will be dissolved, and the per share amount that may be
distributed to shareholders. Such statements are based upon the
current beliefs and expectations and are subject to risks and
uncertainties including that the Company may discover unknown or
incur unanticipated expenses and liabilities. Actual results may
differ from those set forth in the forward-looking statements. The
Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events or otherwise
Media Contact:
Mark W. Rieger
CEO
916.231.0431
SOURCE: National Healthcare Exchange Services, Inc.
Copyright 2012 Marketwire, Inc., All rights reserved.
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