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OCE Open EC Technologies

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Share Name Share Symbol Market Type
Open EC Technologies TSXV:OCE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Open EC Technologies, Inc. Receives Interim Order from the Supreme Court of British Columbia for the Arrangement Agreement Wi...

02/08/2012 2:01pm

Marketwired Canada


Open EC Technologies Inc. (TSX VENTURE:OCE) ("Open EC" or the "Company") is
pleased to announce that Open EC, applied to the Supreme Court of British
Columbia on July 27, 2012 and obtained an interim order providing, among other
things, for the calling and holding of a special meeting of the shareholders of
Open EC (the "Meeting"). At the Meeting, the shareholders of Open EC will be
asked to approve an arrangement agreement between QHR Technologies Inc. ("QHR")
(TSX VENTURE:QHR), and Open EC providing for the acquisition by QHR of all of
the outstanding securities of Open EC (the "Arrangement"), such that Open EC
will become a wholly-owned subsidiary of QHR. Open EC has mailed its information
circular for the Meeting to its shareholders and has filed the information
circular on SEDAR on August 1, 2012.


Open EC expects to hold the Meeting on September 6, 2012. Upon obtaining
approval of the Arrangement by the shareholders of Open EC at the Meeting, Open
EC and QHR will make an application to the Supreme Court of British Columbia for
a final order approving the Arrangement on September 7, 2012.


About Open EC Technologies, Inc.

Open EC Technologies is an e-Business Information Technology company with our
corporate head office, marketing and development in Vancouver, BC, main
HealthCare IT Solutions Operations office in San Antonio, Texas and Medical
Practise Billing Operations office in Spring Hill, Florida. The company has
software development and data center hosting operations in Maine, with Sales and
Executive Management staff in Atlanta Georgia. The Company's focus is to provide
software solutions and transaction processing services to assist Physicians,
Hospitals, Health Plans, Insurance Brokers and State Governments to exchange
information for HIPAA EDI Health Plan Enrolment, Health Insurance Eligibility,
Health Insurance Claims, Claim Payments and HealthCare Provider Collaboration of
supporting patient referral and industry compliance/reporting documentation.


Additional product and solution information is available on the web at
www.openec.com. 


About QHR Technologies Inc.

QHR operates two business units in distinct markets:

The Electronic Medical Records ("EMR") division offers a suite of medical
software modules that provides computer-based medical records for family
physicians, medical specialists, and surgeons, as well as administrative modules
for billing and patient scheduling, that is a key component of the move
throughout Canada to provide electronic healthcare records for all Canadians.
The EMR division also provides on-site and off-site (ASP) hosting capabilities.


The Enterprise Management Software ("EMS") division specializes in workforce
management software, which consists of integrated payroll, staff scheduling and
human resource software, and in customized financial management software built
on the Microsoft Dynamics GP platform. These products are targeted at complex
healthcare, social services and public safety environments.


Additional product and solution information for QHR Technologies is available on
the web at www.QHRtechnologies.com. The QHR Technologies' common shares trade on
the TSX Venture Exchange under the symbol: "QHR".


ON BEHALF OF THE BOARD

Martyn A. Armstrong, President and CEO

Legal Notice Regarding Forward-Looking Statements 

This news release may contain "forward looking statements" within the meaning of
applicable Canadian securities legislation. These statements are subject to
risks that may cause the actual results to be materially different in future
periods from those expressed or implied by such forward looking statements.
Forward looking statements in this news release may include those concerning the
anticipated meeting date. Risks that may prevent, delay or frustrate our
objectives expressed in any of these forward looking statements include the
risks inherent in transactions of this nature, including the risks that the
British Columbia Supreme Court or the Open EC shareholders do not approve the
transaction when asked to do so and the risk that the transaction does not
complete for other reasons, including failure of a condition, lack of capital
and similar risks. It is our policy not to update forward looking statements
except to the extent required under applicable securities laws. Further
information on the Company is available at www.sedar.com or at the Company's
website, www.openec.com.


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