Medworxx Solutions Inc. Announces George Elliott Joins Board of Directors
TORONTO, Oct. 12 /CNW/ - Medworxx Solutions Inc (the "Company")(TSX VENTURE:MWX) announces that Mr. George Elliott has become a Director of Medworxx, effective September 2010, filling a vacancy on the Board.
Mr. Elliott has had a 35 year career with Canada's largest law firms focusing on business development and relationship management. He left law to concentrate on providing new revenue opportunities together with long term financial strategies to growth based companies. Mr. Elliott has been a director, executive or advisor to public companies ranging from large commercial printing, mortgage servicing, construction lending and research companies focusing on recoveries of lost oil and minerals from the oil sands.
"Mr. Elliott's experience with public companies and financial strategy will be valuable to Medworxx and our shareholders," said Dan Matlow, President and CEO, Medworxx.
The Company also announces that Mr. Chris Schnarr, a director since September 2007, has vacated his Board of Directors position. Mr. Schnarr will continue working with Medworxx on a consulting basis doing capital markets work. "Mr. Schnarr has been a valuable member of the Medworxx Board of Directors since the Company has been publicly traded," said Dan Matlow, President & CEO, Medworxx. "His insight is appreciated and we look forward to continue working together in the future."
Medworxx also announces that stock options, with a strike price of $0.12, have been allocated to Directors and Officers of the Company as follows:
Mr. Daniel Matlow, Director, President & CEO | 70,000 options |
Mr. Bernard Webber, Chairman | 25,000 options |
Mr. George Elliott, Director | 75,000 options |
Mr. Sam Marafioti, Director | 25,000 options |
Ms. Renah Persofsky, Director | 25,000 options |
Mr. Barry Tissenbaum, Director | 25,000 options |
Mr. Dominic Crudo, EVP & CFO | 29,000 options |
ABOUT MEDWORXX
Medworxx is a Toronto-based software company focused exclusively on solutions for the North American healthcare marketplace. Medworxx provides healthcare solutions for patient flow, compliance and education. Its software comprises an integrated suite of solutions, including content management, learning management, policies and procedures, utilization management, bed optimization, single sign on, portal, and emergency readiness solutions.
Medworxx started business in May 2004 in Ontario with 3 employees and has since grown to approximately 40 employees. Medworxx' executive team consists of experienced sales, marketing, software development, healthcare, and finance personnel. Medworxx currently has a customer base of over 100 healthcare organizations representing more than 300 hospitals and 500,000 end users who are distributed approximately 70% in Canada and 30% in the United States. Medworxx' customers use its software platform to increase competency, reduce redundancy, reduce costs, and simplify distribution of knowledge to staff and patients, creating a net effect of increased efficiency and improved patient safety and care.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, such as competition, technological changes, the changing needs of hospitals, the financial condition of the Company's current and potential customers, foreign currency exchange rates, as well as general economic conditions, which may cause the actual results, performance or achievements of the Corporation and Medworxx to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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For further information:
Medworxx Solutions Inc.
Dan Matlow
President & Chief Executive Officer
(416) 642-1278
Email: [email protected]
or
Medworxx Solutions Inc.
Domenic Crudo
Chief Financial Officer
(416) 642-1278
Email: [email protected]
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