Healthscreen Solutions Inc.
TSX VENTURE : MDU

Healthscreen Solutions Inc.

August 10, 2005 06:00 ET

Healthscreen Announces Third Quarter 2005 Financial Results

ST. CATHARINES, ONTARIO--(CCNMatthews - Aug. 10, 2005) - Healthscreen Solutions Inc. (TSX VENTURE:MDU), a premier supplier of Electronic Health Record (EHR) Solutions today announced its third quarter financial results for the period ending June 30, 2005.

The Company earned a net income of $26,155 on revenues of $1,020,669 with a positive cash flow of $143,232 for its third quarter ending June 30, 2005. This amount compares with a net loss of $58,824 on revenues of $737,421 during the third quarter last year and a loss of $110,741 on revenues of $849,832 for the second quarter 2005.

The turn-around is largely attributable to management changes that occurred in February 2005, which included Bruce Rosenberg assuming general operations, Wes Stonos becoming sales manager, and Ken Martin taking lead of the expanded development team. The Company's clinics have reached breakeven and each quarter is expected to continue growing revenues, cash and generating further profitability.

"Healthscreen is concentrating on selling its leading electronic medical software package that physicians continually refer to as the best in the industry," says Dr. Bruce Rosenberg, President and CEO. "Our new sales team is proving their ability to convert physician interest in computerization into sales, and our stronger numbers are the result. While our clinics continue to improve, our revenue focus is on building our primary business - electronic medical records and health management software."

About Healthscreen Solutions, Inc.

Healthscreen (www.healthscreen.com) is one of Canada's largest vendors of electronic health records (EHR) for physicians with approximately 5,000 practitioners using its software products that generate more than $1.5 billion in healthcare transactions a year. The Company was among the first EHR providers (certified by the Ontario government) to create leading edge software for a growing list of research groups and community physicians. The Company also operates 6 full service medical clinics that act as turn-key operations maximizing returns for physicians while enhancing patient care.

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.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.

Contact Information

  • Healthscreen Solutions Inc.
    Bruce Rosenberg
    President and CEO
    Toll Free: 1-800-567-5017
    or
    Healthscreen Solutions Inc.
    Jim French
    Vice President
    Toll Free: 1-800-567-5017
    jimf@healthscreen.com
    www.healthscreen.com