/ CORRECTION - NHXS Sells Assets to Gateway EDI
June 25 2012 - 12:39PM
Marketwired
In the news release, "NHXS Sells Assets to Gateway EDI," issued
earlier today by National Healthcare Exchange Services, Inc.
(PINKSHEETS: NHCR), we are advised by the company that the figure
in the second paragraph should be "$0.0088" rather than "$0.088" as
originally issued. Complete corrected text follows.
NHXS Sells Assets to Gateway EDI
Adopts Plan of Liquidation and
Dissolution
SACRAMENTO, CA -- June 25, 2012 -- 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 $0.0088 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