Certive Solutions Inc.
CSE : CBP
OTCQB : CTVEF

Certive Solutions Inc.

October 11, 2016 09:25 ET

Certive Solutions Inc. Announces $600,000 in Equity Conversion

SCOTTSDALE, ARIZONA--(Marketwired - Oct. 11, 2016) - Certive Solutions Inc. (OTCQB:CTVEF)(CSE:CBP) - ("Certive" or the "Company"), is pleased to announce that effective September 29, 2016, the Company and the principals of Omega Technology Solutions Inc. (Omega) agreed to convert a total of US$600,000 in Certive's original purchase price for the assets of Omega into a minimum of 3,000,000 common shares of Certive. The Company purchased the assets of Omega on July 14, 2015 for and in consideration of cash, promissory notes in favor of Omega and its principals, common shares, and convertible preferred shares subject to earn out provisions.

Ann Whatley, founder of Omega, reiterated the comments made by Thomas Hoehner and Todd Hisey, co-founders of the Titan Division, stating that "the goals and objectives we collectively set for ourselves in the early Certive days have come to pass and we look forward with nothing but excitement at the future opportunities for all stakeholders in this high energy, young minded, enterprise. I am personally delighted to accept the conversion of the Omega purchase price into shares of Certive."

Van Potter, CEO, and Brian Cameron, CFO, stated that "Omega Division represents Certive's entrance into the Lost Charge Recovery category of revenue cycle management. Omega has a 20-year history in delivering quality services to its clients identifying provider charges that were not captured in the original bill to health payors for a variety of reasons. We believe that the Omega Division will be a significant contributor to overall net performance of Certive given its unique offering and the competency upon which it services are delivered to its clients."

For more information, please visit our website at www.certive.com.

About Certive Solutions Inc.

Certive Solutions Inc. (Scottsdale, Arizona) provides revenue cycle management solutions to the U.S. healthcare market. Certive's claim audit and recovery services, billing services, and software solutions help providers work with payers to efficiently manage the reimbursement process and improve financial performance. Certive's highly skilled and experienced management team, combined with proprietary workflow and analytics, audit and identify, and bill and collect, underpayments in accordance with contractual obligations between the public or commercial insurance carrier and the designated provider. The healthcare market is changing. Certive works with clients to provide efficient and effective solutions aligned with reform initiatives to improve healthcare and reduce costs.

FORWARD-LOOKING AND OTHER STATEMENTS

This press release contains forward-looking statements. These statements relate to future events or future performance and reflect our expectations and assumptions regarding our growth, results of operations, performance and business prospects and opportunities. Such forward-looking statements reflect our current beliefs and are based on information currently available to us. In some cases, forward-looking statements can be identified by terminology such as "may", "would", "could", "will", "should", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "continue" or the negative of these terms or other similar expressions concerning matters that are not historical facts.

A number of factors could cause actual events, performance or results, including those in respect of the foregoing items, to differ materially from the events, performance and results discussed in the forward looking statements.

Factors that could cause actual events, performance or results to differ materially from those set forth in the forward-looking statements include, but are not limited to:

  • the effect of continuing operating losses on our ability to obtain, on satisfactory terms, or at all, the capital required to remain a going concern;
  • the ability to obtain sufficient and suitable financing to support operations, development and commercialization of our services;
  • the risks associated with the development of our technology;
  • the risks associated with the increase in operating costs from additional development costs and increased staff;
  • the timing and nature of feedback from customers; and
  • our ability to successfully compete in our targeted markets.

Although the forward-looking statements contained in this press release are based on what we consider to be reasonable assumptions based on information currently available to us, there can be no assurance that actual events, performance or results will be consistent with these forward-looking statements, and our assumptions may prove to be incorrect. These forward-looking statements are made as of the date of this press release. Forward-looking statements made in this press release are made as of the date of the original document and have not been updated by us except as expressly provided for in this press release. As required by securities legislation applicable to reporting issuers, it is our policy to update, from time to time, forward-looking information in our periodic management discussions and analyses and provide updates on our activities to the public through the filing and dissemination of news releases and material change reports.

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