SCOTTSDALE, ARIZONA--(Marketwired - March 14, 2017) - Certive Solutions Inc. (OTCQB:CTVEF)(CSE:CBP)(CSE:CBP.CN) - ("Certive" or the "Company") is pleased to announce that further to its news releases dated September 24, 2014, November 19, 2014, February 26, 2015, July 28, 2015, and August 14, 2015, Certive has completed the acquisition of 100 percent of the equity in Knowledge Capital Alliance ("KCA") effective March 13, 2017. This transaction is a restructuring of the asset acquisition of KCA that was closed effective August 31, 2014. It was determined that the acquisition of the equity of KCA will be complementary to the organizational structure of Certive and the KCA brand.
During the past two years, KCA has steadily enhanced its delivery of process management solutions to state and county governments, particularly specializing in business process management for public health-related matters through the implementation of cloud-based applications. This has significantly improved KCA's product offerings to agencies throughout the United States.
The equity of KCA was purchased in consideration for a total of 1,350,000 common shares of Certive at a deemed value of US$0.30 per share. Certive's guarantee of an outstanding note to a KCA shareholder in the amount of US$256,000 was also cancelled.
Fred Erickson, founder of KCA stated that "having worked closely with the Certive team for over two years, it is clear that our objectives are closely aligned with those of Certive and accordingly our confidence in the Company's direction, its management team and the ability to attract highly credentialed Board members will continue to drive future shareholder value. This is reflected in KCA equity transaction, as we have accepted share consideration that has been priced above the current market price."
Van Potter, CEO of Certive, stated that, "This transaction provides a complete transfer of the consideration for the prior asset purchase of KCA into equity in Certive. This demonstrates a confidence in both the principals of KCA in the future success of Certive as well as the demonstrated value of KCA to the Certive operations."
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 successful integration of acquired businesses and assets into the Certive operational structure and alignment with the Certive branding;
- 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.