NexgenRx Inc.
TSX VENTURE : NXG

NexgenRx Inc.

April 11, 2013 22:53 ET

NexgenRx Announces Contract Changes

TORONTO, ONTARIO--(Marketwired - April 11, 2013) - NEXGENRX INC. (TSX VENTURE:NXG) ("NexgenRx" or the "Corporation") announces that it has received notice from one of its clients, Accertaclaim Servicorp Inc., that they will not be renewing their contract with the Corporation on September 1, 2013.

Accerta, a client of the Corporation since November 2006, have taken the strategic decision to exit the private TPA market and focus on the public welfare dental business by purchasing their own dental claims system and operating it in-house. It should be noted that Accerta has confirmed that this decision is not a result of any issues with service, performance, pricing or reliability of NexgenRx's products or services.

"We appreciate the strategic decision Accerta has taken to return to their core dental business and our current analysis indicates that the impact to our net income for 2013 will be approximately $100,000 (+/- 10%). Notwithstanding this change, we are confident that with our recently introduced sales strategy and our pipeline of prospective clients, we will continue the positive trajectory for our business" stated Ron Loucks, President & CEO.

About NexgenRx

NexgenRx is Canada's leading independent health benefits plan administrator, providing proprietary on-line claims adjudication and web-based solutions to effectively manage benefits costs for plan sponsors and their 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.

Contact Information

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

    NexgenRx Inc.
    Taba Merrikh
    Director of Finance
    416.695.3393 x803