Open EC Technologies, Inc.

Open EC Technologies, Inc.

May 12, 2011 14:24 ET

Open EC Softcare Signs Recurring Revenue Agreement With Gen4 for Healthcare Plan Benefit Enrolment Processing.

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 12, 2011) - Open EC Technologies, Inc. ("Open EC" or the "Company") (TSX VENTURE:OCE) is pleased to announce its subsidiary, SoftCare EC Solutions Inc., has executed a revenue development agreement with Gen4 Solutions, LLC ("Gen4") in Washington D.C. to offer a recurring revenue based Electronic HealthCare Benefit Enrolment Solution for the processing of Employer/Employee member health plan enrolments.

Under the agreement Gen4 will exclusively use the SoftCare Electronic Enrolment Solutions integrated to its Software as a Service (SaaS) based, Gen4 Agency Management System for the implementation, support and operations of their Electronic Data Interchange (EDI) HealthCare Benefit Enrolment requirements with Insurance Carriers, Brokers, Employers and Government Agencies.

Gen4 will supply the SoftCare's EDI HealthCare Benefit Enrolment add-on to their existing 1,800 Insurance Broker customers and will market a stand-alone "Enrolment Engine" for general health plan enrolment applications. The parties will share in the recurring subscription fees generated from the Gen4 customers and additional stand-alone enrolment solutions.

Joshua Cameron, Director of Sales at Gen4 states: "This excellent strategic fit with SoftCare will strengthen our market position as the leading Benefit Management Solution company. With the addition of SoftCare's advanced HIPAA EDI software technology for Electronic Health Benefit Enrolments, our Broker customers, their thousands of employers and millions of employees, will benefit with this joint solution to manage their Health plan enrolments electronically, reducing the paperwork, errors and additional costs of health plan management."

In addition, SoftCare will also have the right to market the joint Gen4 Enrollment Solution to Employers, Preferred Provider Organizations, Third Party Administrators, HMOs and Government Health programs as a general HIPAA EDI Enrolment solution for the HealthCare Industry under its SoftCare brand.

Martyn Armstrong, CEO of Open EC states: "SoftCare's revenue development agreement with Gen4 will position our Company to offer HealthCare Plan Benefit Enrolment processing services to Gen4 customers that will directly strengthen our recurring subscription services and continue to grow our market share in the US HealthCare Industry. Our business plan is to aggressively grow our base of HealthCare processing subscription services by offering highly beneficial solutions like the combination of our TradeLink HIPAA Compliant EDI Enrolment solution integrated to the Gen4 Benefit Administration Solutions."

In the United States the majority of the Employer Group Health Plans are marketed through the Broker Industry.

Approximately 69% of US Employers offer Health Plans to their employees, the average annual premiums for employer-sponsored health insurance in 2010 are $5,049 for single coverage and $13,770 for family coverage.

About Gen4 Solutions, LLC

Gen4 is the nation's leading provider of web-based management systems for both the Individual Life and Group Benefits industries. Gen4 delivers innovative and cost effective agency and broker management systems to companies of all sizes across the country. Headquartered in the Washington D.C. metro area, Gen4 has branch locations and distribution partners throughout the United States. ( )

About Open EC Technologies, Inc.

Open EC is a TSX Venture Exchange listed company. Its subsidiary, SoftCare EC Solutions Inc. is an e-business software, services and solution provider. SoftCare's OpenEC® TradeLink e-business software includes solutions for Electronic Data Interchange (EDI), Healthcare Interoperability and Business Process Management. The Company sells the OpenEC® products and solutions to the healthcare, financial services and retail supply chain in North America. The company has a growing focus on turnkey solutions for US Healthcare Information Technology Reforms funded by the US Federal Government ARRA programs for Healthcare IT Interoperable mandates. Additional product and solution information is available on the web at, and and additional public company information is available on the web at The Company's common shares trade on the TSX Venture Exchange under the symbol: OCE.


Martyn A. Armstrong, President and CEO

Further information about the Company can be found on SEDAR ( or by contacting Mr. Martyn A. Armstrong, President & CEO of the Company

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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