NexgenRx Inc.
TSX VENTURE : NXG

NexgenRx Inc.

August 22, 2011 17:22 ET

NexgenRx Announces 2011 Second Quarter Results

TORONTO, ONTARIO--(Marketwire - Aug. 22, 2011) - NEXGENRX INC. (TSX VENTURE:NXG) ("NexgenRx" or the "Corporation") is pleased to announce its 2011second quarter's results.

Revenue increased by 10% in comparison to the same quarter in 2010. The continued growth is a result of the market recognizing the NexgenRx value proposition. During the first six month of 2011 the Corporation executed its strategic IT plan in preparation for the next significant phase of growth. The Corporation incurred a one-time expense related to the restructuring of its IT resources and infrastructure.

By introducing the latest combination of "cloud computing" services and traditional IT, the Corporation significantly enhanced its previous IT infrastructure which will reduce operating costs, increase productivity and agility while providing scalability to meet its growing client base.

"This new evergreen environment allows us to continuously refresh our hardware needs at no additional cost. In order to further protect our proprietary intellectual property, we increased our own in house expertise to eliminate our dependency on external resources" stated Ron Loucks, President & CEO.

About NexgenRx

NexgenRx is a growing health benefits management company engaged in the design, management and administration of health benefit plans offered by employers and other plan sponsors for the benefit of their employees and plan members. More information on NexgenRx can be found at www.nexgenrx.com.

Caution Regarding Forward-Looking Statements – This news release contains certain forward looking statements, including statements regarding the business and anticipated financial performance of the Corporation. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward- looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements.

Neither 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 the release.

Contact Information

  • NexgenRx Inc.
    Ronald C. Loucks
    President and CEO
    416.695.3393 x801

    NexgenRx Inc.
    Taba Merrikh
    Director of Finance
    416-695-3393x803
    www.nexgenrx.com