Oct 20 2010
Nightingale Informatix Corporation (TSX-V: NGH) ("Nightingale" or the "Company"), an application service provider (ASP) of electronic medical record (EMR) software and related services today announced that during its fiscal 2011 second quarter ended September 30, it signed agreements to deploy its Nightingale On Demand EMR and practice management solution with healthcare providers across Canada, representing more than 200 seats (A "Seat" is defined as a paying healthcare provider using Nightingale's Electronic Medical Record). A substantial number of the EMR agreements Nightingale signed in the quarter are with Ontario-based clinics and are being supported through OntarioMD's EMR implementation funding program.
"During the quarter, we continued to strengthen our position as the market leader in providing EMR and practice management solutions to Canadian physicians," said Sam Chebib, President and CEO of Nightingale. "Within Ontario, which is currently a strong opportunity for growth among our key target markets, the availability of government funding continues to be the catalyst that is driving EMR adoption.
Mr. Chebib added: "Although we made solid strides in expanding our market position this quarter, we do expect some short-term pressure on the Company's immediate revenue. However these transactions will contribute more significantly to long-term recurring revenue base - an important financial goal for us, as it strengthens our long-term performance.
Nightingale experienced success within both the enterprise and SMB (Small and Medium Business) healthcare sectors during Q2 fiscal 2011. The Company signed a major five-year contract with AIM Health Group, to support more than 150 healthcare professionals across Canada (as previously announced) as well as agreements with independent clinics throughout Ontario including ones that provide specialized patient care, such as the Pivot Sport Medicine and Orthopaedics Clinic, located in Toronto, Ontario.
"Looking ahead, as the Canadian market continues to unfold, we anticipate some near-term fluctuations in EMR adoption," said Chebib. "However, we have a solid Canadian sales pipeline, which we believe positions us to continue to expand our presence in our target markets - Ontario, Nova Scotia, and Saskatchewan - over the long-term."
Source:
NIGHTINGALE INFORMATIX CORPORATION