Healthscreen Solutions Inc.

Healthscreen Solutions Inc.

October 18, 2007 08:00 ET

Healthscreen Announces Fourth Quarter Revenues and Opens the Toronto Stock Exchange

Revenue grows 308% quarter-over-quarter

TORONTO, ONTARIO--(Marketwire - Oct. 18, 2007) - Healthscreen Solutions Inc. (TSX VENTURE:MDU) ("Healthscreen" or the "Company") a premier supplier of electronic medical record (EMR) software and practice enhancing services is pleased to announce its fourth quarter revenue results for the period ending September 30, 2007.

In accordance with its policy to provide the public markets with greater insight into its quarterly financial performance, going forward, Healthscreen will pre-release unaudited quarterly revenue figures as soon as they are made available following the end of the Company's financial period.

Fourth Quarter Revenue and Comparison

Growth Growth
Q407 Q307 Q/Q Q406 Q/Q
Revenue $1,429,510 $697,321 105% $350,775 308%

Fourth Quarter Revenue by Segment

Services Software Total
Revenue $652,813 $776,697 $1,429,510

In the fourth quarter of 2007, the Company reported revenues of $1.43 million compared to $0.351 million for the same period in 2006, and compared to $0.697 million in the third quarter of 2007, representing growth of 308% from the fourth quarter in 2006, and 105% from the previous quarter. In a breakdown of revenues, 46% resulted from the Physician Services side of Healthscreen's business, while 54% of revenues came from the Medical Software side of the business.

Using September 2007 revenue figure of $0.677 as a base, Healthscreen's annual revenue run-rate is $8.12 million.

In addition, average annualized revenue per doctor in September 2007 was $2,030, up from $533 in September 2006 and $1,596 in June 2007.

"We are very pleased with the revenue growth Healthscreen has achieved in its first full operating quarter since the merger with Medical Telecom," said Justin Belobaba, President and CEO of Healthscreen. "The ability to offer Medical Telecom's higher margin services to Healthscreen's large existing customer base has allowed us to increase our Average Revenue per Doctor, and as a result, achieve a phenomenal growth rate. We will continue up-selling customers on our higher margin products, especially given our recent acquisition of Johnson Lake Software and its 1,300 Ontario customers."

Healthscreen is expected to release its full financial results for the fourth quarter of 2007 and fiscal 2007 year-end in December.

In addition, Healthscreen will be featured today opening the Toronto Stock Exchange.

About Healthscreen Solutions Inc.

Healthscreen Solutions ( offers a comprehensive suite of practice enhancing products and services designed to increase physician revenues, reduce costs and improve patient care. The Company's robust OHIP billing and patient scheduling software is used by over 4,000 full-time physicians and handles more than $1.5 billion in healthcare transactions a year.

Healthscreen's Electronic Medical Record (EMR) software supports digitalization and network connectivity for community specialists and family physicians plus a growing list of research groups. The Company's broader goal of Continuous Practice Enhancement is being further realized with a growing list of revenue-generating services such as CallerMD, which assists doctors in managing a range of uninsured medical services and PrevCareMD which allows doctors to maximize government-funded preventive care bonuses.

Disclaimer: Statements in this release that are forward looking involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to be materially different from any future performance that may be suggested in this release. The company assumes no obligation to update any forward-looking statements contained in this release. Trading in the securities of Healthscreen should be considered highly speculative.

The TSX Venture Exchange has in no way approved nor disapproved the contents of this news release.

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