Venquest Capital Ltd.
TSX VENTURE : VC.P

May 31, 2005 12:01 ET

Venquest Capital Ltd.: Nightingale Hires New V.P. Sales & Marketing

TORONTO, ONTARIO--(CCNMatthews - May 31, 2005) - Venquest Capital Ltd., (TSX VENTURE:VC.P) ("Venquest") and Nightingale Informatix Corporation, ("Nightingale") are pleased to announce that Mr. John Bodolai has joined Nightingale as Vice-President Sales and Marketing, effective immediately. Mr. Bodolai will be responsible for all aspects of Sales and Marketing of Nightingale products and services in Canada.

John Bodolai, aged 41, brings a wealth of experience in software sales and marketing. Mr. Bodolai spent the last nine years with PeopleSoft Canada, holding a number of key management positions in sales and marketing, including Director of Alliances and Business Development and later, Regional Director of Sales and Customer Service. Prior to that, he held a number of sales and sales management positions with various Information Technology ("IT") firms, Banking Institutions and Monsanto Canada. Mr. Bodolai holds a Business Degree from Wilfred Laurier University. He also holds a CMA (Certified Management Accountant) designation.

"We are pleased to welcome John Bodolai to the Nightingale team. Under his leadership, we are looking forward to further accelerate our efforts in penetrating the market on a wider scale and leveraging the recent successes of Nightingale in the Enterprise Healthcare IT market. Mr. Bodolai will be ably supported by our national team led by John Anders, Vice-President Business Development, Chris Nedelmann Regional Director Western Canada and Davinder Gurm, Regional Manager Ontario" stated Mr. Sam Chebib, CEO of Nightingale.

Venquest and its principal shareholders have entered into an arm's length letter agreement dated April 5, 2005 with Nightingale and the principal shareholders of Nightingale, pursuant to which the Corporation and Nightingale have agreed to complete a business combination to form a new company called Nightingale Informatix Corporation. The Business Combination is expected to constitute a Qualifying Transaction of the Corporation as defined in Policy 2.4 of the TSX Venture Exchange Inc. Corporate Finance Manual. The completion of the Business Combination is subject to the approval of TSX Venture and all other necessary regulatory approval. The completion of the Business Combination is also subject to additional conditions precedent, including shareholder approval of the Corporation and of Nightingale for the Business Combination, satisfactory completion by due diligence reviews by the parties, board of directors approval of the Corporation and Nightingale, the entering into of a formal agreement, the entering into of non-competition agreements with certain senior officers of Nightingale and certain other conditions.

ABOUT NIGHTINGALE INFORMATIX CORPORATION:

Nightingale is Canada's largest application service provider of practice and clinical management solutions and services for outpatient clinics. Nightingale's suite of products offer Canadian and United States physicians leading edge functionality for patient scheduling, claims processing, work flow tools, clinical documentation, laboratory interfaces, document management and real-time patient services. OpenX Technologies and VisionMD are wholly owned subsidiaries of Nightingale. Nightingale services customers in British Columbia, Alberta, Saskatchewan, Ontario, Quebec, Nova Scotia and New Brunswick.

FORWARD LOOKING STATEMENTS:

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Factors that might cause a difference include, but are not limited to, market acceptance of principal products, the impact of competitive products and technologies, the possibility of products infringing patents and other intellectual property of fourth parties, and costs of product development. Neither Nightingale nor Venquest will update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Venquest and Nightingale.


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

Contact Information

  • Venquest Capital Ltd.
    Peter Kozicz
    Director
    (905) 815-9103
    or
    Nightingale Informatix Corporation
    Nick Vaney
    VP Finance & Corporate Development
    (905) 943-2606