Click here to close now.

SYS-CON MEDIA Authors: VictorOps Blog, Lori MacVittie, Elizabeth White, Eva Belanyiova, tru welu

News Feed Item

ZoomMed Sells Interest in its ZRx Prescriber to TELUS Health for the Canadian Market for Up to $6,800,000

ZoomMed to focus on U.S. market by selling to TELUS Health an interest in its ZRx Prescriber Technology and related Canadian operations

MONTREAL, QUEBEC -- (Marketwired) -- 09/03/14 -- ZoomMed Inc. (TSX VENTURE: ZMD) - ZoomMed has sold an interest in the technology underlying its ZRx Prescriber Technology and certain related Canadian operations to TELUS Health for up to $6,800,000 which will allow ZoomMed's team to continue its worldwide distribution of its unique prescriber, with ongoing priority focus on the U.S. market. TELUS Health is Canada's largest Electronic Medical Records (EMR) provider and a leader in the Canadian claims and benefits management sector.

The $6,800,000 purchase price terms and conditions includes a cash payment of approximately $5,000,000 at closing, $500,000 in adjustments regarding deferred revenues and $1,300,000 contingent payment subject to certain conditions. ZoomMed will use the proceeds of this transaction to reimburse its actual debenture and for working capital in order to invest in the marketing and deployment of the ZRx Prescriber technology worldwide.

As part of the agreed transactions, ZoomMed retains its exclusive intellectual property in the ZRx Prescriber for the United States and the United Kingdom. TELUS Health will hold for its part the exclusive intellectual property in the ZRx Prescriber in Canada. Pursuant to this agreement and subject to the specific exploitation conditions, ZoomMed and TELUS Health will share the intellectual property in the ZRx Prescriber in the rest of the world.

The TSX Venture Exchange has granted a conditional approval for this transaction but remains subject to its final approval.

" It is very rewarding that our vision for the ZRx Prescriber will be expanded throughout Canada by TELUS Health. Their integration of our unique electronic prescribing solution as a key component of their expansive network confirms its universal appeal and potential. This transaction will enable ZoomMed, through the deployment of the ZRx Prescriber across the expansive and world-class TELUS network, to enjoy a wonderful showcase of world-class technology in Canada, which supports our efforts to penetrate the American and international markets." comments Yves Marmet, President, ZoomMed.

ZRx Prescriber is currently used by 520 clinics in Quebec and Ontario to process 400,000 new prescriptions monthly. TELUS Health plans to gradually integrate the advanced capabilities of the ZRx Prescriber functionality into EMRs used by more than 13,000 physicians across Canada.

About ZoomMed

ZoomMed builds and operates "ZoomMed's communication network", a clinical information exchange platform between physicians and the various other stakeholders of the healthcare sector, such as pharmacists, specialists, pharmaceutical corporations and private insurers. The cornerstone of this network is ZoomMed's "ZRx Prescriber", a technological innovative Web application that greatly simplifies the writing of a prescription for the physician. Since it is a stand-alone product, it can easily be integrated to any Electronic Medical Record application (EMR).

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements made in this news release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statements.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
"Desktop as a Service is emerging as a very big trend. One of the big influencers of this – for Esri – is that we have a large user base that uses virtualization and they are looking at Desktop as a Service right now," explained John Meza, Product Engineer at Esri, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that the "First Containers & Microservices Conference" will take place June 9-11, 2015, at the Javits Center in New York City. The “Second Containers & Microservices Conference” will take place November 3-5, 2015, at Santa Clara Convention Center, Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
ThingsExpo New York is offering a limited time FREE "Expo Plus" registration option in New York. On site registration price of $1,95 will be set to 'free' for delegates who register during special offer. To take advantage of this opportunity, attendees can use the coupon code, and secure their registration to attend all keynotes, ThingsExpo sessions, expo floor, and SYS-CON.tv power panels. Special FREE registration givess access to all DevOps, Containers and Microservices sessions as well. Regi...
"In our world there's a lot of cloud. Our focus is to help companies, who are bogged down by the enormousness of the cloud and infrastructure, to really go out there and monetize the cloud," explained Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that SUSE, a pioneer in open source software, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. SUSE provides reliable, interoperable Linux, cloud infrastructure and storage solutions that give enterprises greater control and flexibility. More than 20 years of engineering excellence, exceptional service and an unrivaled partner ecosystem power the products and support that help ...
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"We help companies that are using a lot of Software as a Service. We help companies manage and gain visibility into what people are using inside the company and decide to secure them or use standards to lock down or to embrace the adoption of SaaS inside the company," explained Scott Kriz, Co-founder and CEO of Bitium, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The only place to be Nov 3-5 is Cloud Expo | @ThingsExpo | DevOps Summit 2015 West at the Santa Clara Convention Center in Santa Clara, CA. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT, Big Data and DevOps companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterprise. Speakers from all over the world will be hand-picked...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. 8th International Big Data Expo, co-located with 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. As advanced data storage, access and analytics technologies aimed at handling high-volume and/or fast moving data all move center stage, aided by the cloud computing bo...
“The year of the cloud – we have no idea when it's really happening but we think it's happening now. For those technology providers like Zentera that are helping enterprises move to the cloud - it's been fun to watch," noted Mike Loftus, VP Product Management and Marketing at Zentera Systems, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"Blue Box has been around for 10-11 years, and last year we launched Blue Box Cloud. We like the term 'Private Cloud as a Service' because we think that embodies what we are launching as a product - it's a managed hosted private cloud," explained Giles Frith, Vice President of Customer Operations at Blue Box, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps Summit at Cloud Expo New York is offering a limited time FREE "Expo Plus" registration option in New York. On site registration price of $1,95 will be set to 'free' for delegates who register during special offer. To take advantage of this opportunity, attendees can use the coupon code, and secure their registration to attend all keynotes, @DevOpsSummit sessions at Cloud Expo, expo floor, and SYS-CON.tv power panels. Special FREE registration givess access to all Containers and Microservi...