Quovadx Amends Merger Agreement With Battery Ventures; Increases Per-Share Consideration to Approximately $3.20

  
    
  
  
    
      Quovadx, Inc. (Nasdaq:QVDX), a global software and vertical solutions 
      company, today announced that it has amended and restated its merger 
      agreement with Battery Ventures. The amendment increases the proposed 
      total consideration to $139.1 million (or approximately $3.20 
      per-share). This is an increase from the previous consideration of 
      $136.7 million (or approximately $3.15 per share, which was subject to a 
      working capital adjustment at closing). Under the terms of the original 
      agreement, the total consideration could have either decreased or 
      increased depending on the outcome of a closing day working capital 
      determination. As a result of the amendment announced today, the 
      consideration payable to Quovadx stockholders is now fixed and is not 
      subject to any further adjustment.
    
    
      The proposed transaction is subject to customary conditions to closing, 
      including Quovadx stockholder approval. The Company expects to file a 
      proxy statement related to this transaction and to hold a special 
      meeting for stockholders promptly following clearance of its proxy 
      materials from the SEC. The proposed transaction is expected to close 
      within 90 days. Upon closing, Quovadx, Inc. will no longer be publicly 
      traded on the NASDAQ stock market.
    
    
      Additional details on these transactions are described in a related Form 
      8-K, filed concurrently with this release, and available at www.sec.gov. 
      In addition, more detailed information on the Battery Ventures 
      transaction will be provided in a proxy statement, which, subject to 
      approval from the SEC, is expected to be mailed to Quovadx stockholders 
      in June 2007.
    
    
      About Quovadx, Inc.
    
    
      Quovadx (Nasdaq:QVDX) offers software and services for software system 
      development, extension, and integration to enterprise customers 
      worldwide. Quovadx has two divisions, including the Integration 
      Solutions division (ISD), which offers private and public healthcare and 
      healthcare IT organizations software infrastructure to facilitate system 
      interoperability and leverage existing technology, and, the Rogue Wave 
      Software division, which provides reusable software components and 
      services for enterprise-class application development and 
      high-performance SOA. A third business unit, CareScience, Inc., was sold 
      to Premier Inc. on March 30, 2007. For more information, please 
      visit www.quovadx.com.
    
    
      QUOVADX, and QUOVADX logo are registered trademarks or service marks 
      of Quovadx, Inc. in the U.S. and/or select foreign countries. The 
      absence of a trademark from this list does not constitute a waiver of 
      Quovadx Inc.’s intellectual property rights 
      concerning that trademark. All other company and product names 
      mentioned may be trademarks of the companies with which they are 
      associated.
    
    
      Additional Information about the Merger and Where to Find It
    
    
      This communication is being made in respect of the proposed merger 
      transaction involving Quovadx, Inc. and Battery Ventures. In connection 
      with the transaction, Quovadx, Inc. will file a proxy statement with the 
      SEC. Quovadx stockholders are urged to read the proxy statement 
      carefully and in its entirety when it becomes available because it will 
      contain important information about the proposed transaction. The final 
      proxy statement will be mailed to Quovadx stockholders. In addition, the 
      proxy statement and other documents will be available free of charge 
      from the SEC Internet Web site, http://www.sec.gov. 
      When available, the proxy statement and other pertinent documents also 
      may be obtained for free at Quovadx’s Web 
      site, www.investors.quovadx.com 
      or by contacting Rebecca Winning via email at [e-mail], 
      or by phone at 720-554-1346. Quovadx directors, officers, other members 
      of management and employees may be deemed to be participants in the 
      solicitation of proxies in respect to the proposed transactions. 
      Information regarding Quovadx’s directors and 
      executive officers is detailed in its proxy statements and annual 
      reports on Forms 10-K, and 10-K/A previously filed with the SEC, and the 
      proxy statement relating to the proposed transactions, when it becomes 
      available.
    
    
      Cautionary Statement
    
    
      Certain forward-looking statements are included in this release, 
      including statements relating to a proposed transaction between Quovadx 
      Inc. and Battery Ventures. These statements are made pursuant to the 
      safe harbor provisions of the Private Securities Litigation Reform Act 
      of 1995. These forward-looking statements reflect Quovadx management’s 
      current expectations regarding the proposed transaction, and speak only 
      as of the date of this release. Investors are cautioned that all 
      forward-looking statements in this release involve risks and 
      uncertainties that could cause actual results to differ materially from 
      those referred to in the forward-looking statements. Such risks and 
      uncertainties include, among other things: i) that Quovadx stockholders 
      will not support or approve the transaction in a timely manner, if at 
      all; ii) that the closing of the transaction with Battery Ventures could 
      be materially delayed or more costly and difficult than expected; and/or 
      iii) that the transaction will not be consummated. A full discussion of 
      known risks and uncertainties is included in the Company’s 
      Annual Report on Form 10-K, Form 10-K/A and Quarterly Reports on Form 
      10-Q as filed with the SEC, copies of which are available without charge 
      from the Company. These filings are also available electronically 
      through a link from the Quovadx Investor Relations Web page or from the 
      SEC Web site at www.sec.gov under “Quovadx, 
      Inc.” If any of the events described in those 
      filings were to occur, either alone or in combination, it is likely that 
      the Company’s ability to reach the results 
      described in the forward-looking statements could be impaired and the 
      Company’s stock price could be adversely 
      affected. Quovadx does not undertake any obligation to update or correct 
      any forward-looking statements included in this release to reflect 
      events or circumstances occurring after the date of this release.