EMERGIS INC.
TSX : EME

March 07, 2007 09:00 ET

Emergis Renews and Expands its Relationship with Standard Life

MONTREAL, QUEBEC--(CCNMatthews - March 7, 2007) - Emergis Inc. (TSX:EME) today announced that it has renewed and extended its service agreement with The Standard Life Assurance Company of Canada. Under this new five-year contract, which includes a five-year renewal option, Standard Life will continue to use Emergis' Assure Claims solution for the adjudication of its drug claims, as it has done for the past 17 years, and will implement Emergis' new dental and extended health claims processing system in 2007 and 2008, respectively.

"We are pleased to expand our longstanding relationship with Emergis," said Jean Guay, Senior Vice-President, Group Insurance of Standard Life. "This decision is based on their proven track record in drug claim adjudication and their leadership in the development of claims management solutions."

Emergis' Assure Claims solution makes it possible to adjudicate electronic claims in real time from the point of service on behalf of insurers such as Standard Life, governments and their agencies. It allows for the management of information pertaining to each sponsor's group plan and claimants' eligibility, as well as the transmission of direct payment to health care professionals, and the reimbursement of claims submitted by group plan participants. Assure Claims also provides a complete set of ancillary services such as formulary management, audits, fraud detection, data mining as well as professional services delivered by pharmacists and other industry experts.

"We view Standard Life's decision to use Emergis for multi-benefit claims management as a strong endorsement of our health strategy," said Marc Filion, Executive Vice-President, Health Claims Management of Emergis. "They are the second major insurer to take advantage of this new offering since it was announced last summer."

Emergis delivers adjudication services to some of the largest insurers, government agencies and drug boards in Canada. Emergis insurers collectively represent about half of the private group health insurance market in the country. In 2006, Emergis reached the 60 million mark for drug claims adjudicated. Emergis is also one of the largest electronic claims transport companies in Canada. In 2006, the company transported 158 million drug and dental claims. Its electronic network for the transport of claims reaches 99% of Canadian pharmacies and all dentists in Canada who submit claims electronically.

About Standard Life

Standard Life Canada is a major investment, retirement and financial protection company. Along with its affiliated companies in Canada, as of June 30, 2006, The Standard Life Assurance Company of Canada had $34.5 billion in assets under management and offered a wide range of financial products and services to over 1.31 million individuals, including group insurance and pension plan members. Total premium income and deposits reached $5.2 billion in 2005. Standard Life has been a prominent player in the Canadian marketplace since 1833.
(www.standardlife.ca)

The Standard Life group is a leading provider of financial products and services, with approximately 7 million customers worldwide. As of June 30, 2006, its investment management business had $254 billion in assets under management. Founded in Edinburgh (Scotland) in 1825, The Standard Life Assurance Company became a mutual life insurance company in 1925. Following overwhelming support by voting members and subsequent approval from the Court of Session in Scotland, the Company demutualized and a new public company - Standard Life plc -was born. Standard Life plc was listed on the London Stock Exchange (LSE), under the ticker symbol or code SL., on July 10, 2006. (www.standardlife.com)

About Emergis

Emergis is an IT leader in Canada that focuses on the health and financial services sectors. It develops and manages solutions that automate transactions and the secure exchange of information to increase the process efficiency and quality of service of its customers. Emergis has expertise in electronic health-related claims processing, health record systems, pharmacy management solutions, cash management and loan document processing and registration. In Canada, Emergis delivers solutions to the main insurance companies, top financial institutions, government agencies, hospitals, large corporations, real estate lawyers and notaries and 2,900 pharmacies. Its electronic health record solutions are also delivered in the U.S. and Australia. The Company's shares (TSX: EME) are included in the S&P/TSX Composite Index.

Certain information in this news release, in various filings with Canadian regulators, in reports to shareholders and in other communications, is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among others, information with respect to the Company's objectives and the strategies to achieve those objectives, as well as information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company's expectations as of March 7, 2007.

The results or events predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from a conclusion, forecast or projection in such forward-looking information include, among others: general economic factors, adverse industry events, the adoption rate of the Company's solutions by customers and by related electronic trading communities, its ability to deliver development and implementation projects in a timely manner, the non-renewal of major contracts which expire in the near term, complexities and timing of signing large customer contracts, customers developing internally the capability to perform the services which the Company performs on their behalf, its response to its industry's rapid pace of change, the limited time to capitalize on market opportunities, competition, pricing pressures, fluctuations in its operating results, its ability to make and integrate acquisitions, failures or material changes in its strategic relationships, exposure under contract indemnities, defects in software or failures in the processing of transactions, security and privacy breaches, its ability to attract and retain key personnel, its ability to protect its intellectual property, intellectual property infringement claims, and industry and government regulation.

Emergis cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. In making the forward-looking information contained in this news release, the Company does not assume any significant acquisitions, dispositions or one-time items. It does assume, however, the renewal of certain customer contracts. Every year, Emergis has major customer contracts that it needs to renew. One of these represents slightly more than 10% of its annual revenue. In addition, the Company also assumes the signature of contracts in new markets in the public health sector. In this regard, Emergis is pursuing large opportunities that present a very long and complex sales cycle, which substantially affect the Company's forecasting abilities. The Company has made certain assumptions regarding the timing of the realization of these opportunities which it thinks is reasonable but which may not be achieved. Furthermore, the pursuit of these larger opportunities does not ensure a linear progression of the Company's revenue and earnings, since they may involve significant up-front fees followed by reduced ongoing payments. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not result in such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. For additional information with respect to certain of these and other factors, refer to the risks and uncertainties section of the Company's 2006 MD&A and to its 2006 Annual Information Form (risks and uncertainties) filed with Canadian regulators.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF EMERGIS AS OF MARCH 7, 2007 AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. HOWEVER, EMERGIS EXPRESSLY DISCLAIMS ANY INTENTION OR OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING INFORMATION, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE, EXCEPT AS REQUIRED BY APPLICABLE LAW.

Contact Information

  • Emergis Inc.
    John Gutpell
    450-928-6856