NHXS Sells Assets to Gateway EDI
June 25 2012 - 11:16AM
Marketwired
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