HTN Inc.

January 29, 2010 18:52 ET

HTN Inc. Acquires ACSL

TORONTO, ONTARIO--(Marketwire - Jan. 29, 2010) -


HTN Inc. (TSX VENTURE:HET) ("HTN") is pleased to announce that, subject to TSX Venture Exchange approval and normal closing conditions, it has entered into a Share Purchase Agreement with Advanced Computer Systems Ltd. ("ACSL"), a private corporation, that has been a long time competitor to HTN in the design, development and sale of medical office/clinic automation software in the Province of Ontario.

For competitive reasons, the total purchase price of the acquisition will remain confidential. However, under the Terms of the Agreement, HTN intends to issue 5,000,000 Common Shares at a deemed price of $0.05 per share as partial payment to acquire all of the issued and outstanding shares of ACSL. As part of the overall financing arrangements of the Agreement, upon closing, all of HTN's Long Term Debt will be consolidated into a single Note Payable. The Common Shares will be subject to a four month hold pursuant to applicable securities laws.

According to HTN's President/CEO, Gary Babcock, "By acquiring ACSL, with its loyal client base of over 600 medical practitioners currently using their highly regarded Visual Practice software, HTN expects to see an immediate 65% increase in recurring annual revenues. Also, while ACSL has an excellent reputation in the configuration and integration of entire office systems, combining both software and hardware, HTN has always been a leader in the development and marketing of leading edge software, evidenced by our new Electronic Medical Record ("EMR") program, HERO™ CMS. With the obvious synergies created with the merger of the two companies, we also expect additional growth in revenues by cross-selling existing skill sets to each other's client bases."

As part of the Agreement, all of ACSL's current employees, including both owners of the company, will be joining HTN's existing staff. "We're excited about the prospect of offering an upgrade path to a fully functional EMR program to all of our clients" said Rocco Vari, one of the ACSL owners. "The interest in EMR has exploded recently, in part because of the introduction of funding programs as well as the many technical improvements in EMR functionality. Whether users are funded or not, there is a great opportunity in selling HTN's HERO CMS to all types of medical practitioners. We also see a lot of potential in selling hardware and system configuration services into HTN's existing client base."

According to ACSL's other owner, Jay Patterson "Of all the EMRs we looked at in the marketplace, HTN's HERO CMS program is one of the few that can be configured either as a 'Local Solution' - with the data stored in the practitioner's office or as an 'ASP' - with the data stored off-site, connected via the Internet. This gives clients total choice when choosing the optimal system configuration for their medical practice, whether they are a single practitioner or a medical facility with thousands of users."

About HTN Inc.

HTN Inc. (, an acronym for Health Transaction Network, is a medical/healthcare information technology company and software support organization, which pioneered the use of on-line healthcare transaction networks in the province of Ontario, Canada, where the company's head offices have been located since the company's inception in 1994. With its flagship HERO™ (Healthcare Electronic Resources On-line) and HERO™ CMS products, HTN Inc. provides the latest in cost effective, computerized automation to medical offices, clinics, hospitals and other medical facilities - providing users with improved workflow, faster information retrieval and overall operating efficiencies while seamlessly enabling them to electronically exchange/share clinical and transactional information with other healthcare facilities, providers, payers, insurers, patients, and suppliers.

READER ADVISORY: FORWARD-LOOKING STATEMENTS Certain information set forth in this document, including management's assessment of HTN's future plans and operations, contain forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond these parties' control, including the impact of general economic conditions, industry conditions, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. HTN's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that HTN will derive therefrom. HTN disclaims any intention or obligation to update or review any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Press release.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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