NexgenRx Inc.
TSX VENTURE : NXG

NexgenRx Inc.

May 15, 2017 20:18 ET

NexgenRx Announces Q1 2017 Results

TORONTO, ONTARIO--(Marketwired - May 15, 2017) - NEXGENRX INC. (TSX VENTURE:NXG) ("NexgenRx" or the "Company") is pleased to announce its Q1 2017 financial results.

Revenue for the quarter was $1,504,926, an increase of 7% over the same period last year. At the end of the first quarter, payables were reduced, so while cash decreased, the quarter was once again cash flow positive and profitable. The Company continues to build on new client relations, with anticipated additional organic revenue growth. This is expected to be accomplished through continued relationship building and hiring of additional experienced sales, marketing and client relationship staff.

"The sales pipeline continues to expand and accelerate as more targeted prospects are being generated through our current client list, leading to more rapid adoption throughout the country," stated Ron Loucks, President & CEO.

Product Development

The Company has embarked on a project to address the evolution of various web platforms, giving users of all web-browsers easy and seamless compatibility with the NexgenRx member-based interactive websites. The plan member experience continues to evolve with neXmobile®, our iPhone and Android mobile app. We continue to rapidly expand our technology reach by enrolling more targeted healthcare providers to submit claims via our proprietary secure web-portal, theclaimsXchange.com.

About NexgenRx

NexgenRx is Canada's only independent full service claims adjudicator with full front end administration capability. These combined capabilities allow NexgenRx to provide complete solutions to plan sponsors that need sophisticated health benefit technology applications, in a cost- effective manner. NexgenRx is committed to building partnerships with organizations looking to exceed the expectations of their clients and deliver superior administration and claims processing solutions at a competitive cost. 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

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

    Kelly Ehler CPA, CA
    NexgenRx Inc.
    Chief Financial Officer
    416-695-3393x803