ZoomMed inc.
TSX VENTURE : ZMD

ZoomMed inc.

February 11, 2011 08:01 ET

ZoomMed Acquires Praxis Sante

MONTREAL, QUEBEC--(Marketwire - Feb. 11, 2011) - ZoomMed Inc. (TSX VENTURE:ZMD). ZoomMed is proud to announce the acquisition of Praxis Santé Inc. This acquisition contributes to consolidate and add value to ZoomMed's e-Pic communication network between physicians and pharmacists. Furthermore, it broadens the scope of its network, a powerful intercommunication tool between pharmaceutical companies, physicians and now the pharmacists.

Accordingly, a portion of the aggregate counterpart payable for the acquisition by the Corporation will be made through the issuance of a maximum of 3,500,000 common shares of ZoomMed at a deemed price of $0.20 per common share and the payment of $800,000 in cash to Praxis Santé Inc's shareholders.

Praxis Santé Inc. has developed complete management software's for patients' files of pharmacists, based on Web technologies perfectly compatible with the technology used by ZoomMed Inc. As it is at a development stage, according to the non audited financial statements as of December 31, 2010, Praxis Santé Inc. has incomes of $123,793, net benefit of $43,912, cumulated loss of $3,641, assets of $404,318 and liabilities of $107,859. Nevertheless, the counterpart reflects the great potential of the technologies of Praxis Santé Inc. Indeed, this acquisition enables ZoomMed to diversify and consolidate its position in the Canadian Healthcare network, concurrently to its recent announcement regarding the launching and penetration of the important American Market.

At a time where the different Healthcare networks in North-America are looking for state of the art solutions to optimize collaboration and information exchanges between Health Professionals, ZoomMed can now capitalize on a powerful application portfolio that will allow it to bring a significant contribution towards the fulfillment of those objectives. One of the principal causes of problems that physicians and pharmacists have in adhering to major governmental Electronic Medical Record type projects pertain to their own outdated applications and technology. ZoomMed's solutions are state of the art Web based applications. They are not only very user friendly to health care professionals, but can easily be interfaced with different private initiatives and Government projects, without the risk of disturbing their own IT operations.

This transaction is subject to the approval of the TSX Venture Exchange and other regulatory authorities.

About ZoomMed

ZoomMed's developed the ZRx Prescriber, a technological innovative Web application that enables physicians to use a wireless device, such as the IPod Touch™, IPhone™, IPad™, Google Android™, other PDA's or computers, to write and rapidly deliver scripts. The ZRx Prescriber is quick, efficient and intuitive. Since it is a stand-alone product, it can easily be integrated to any Electronic Medical Record application (EMR).

About Praxis Santé

PraxisLab is a new application that enhances all aspects of the prescription filling process and the complete pharmacists patient file management. Fast, efficient and user friendly, its unique development concept provides a fast access to all its functionalities, thus allowing its users to be productive with a minimum training. PraxisLab uses state-of-the-art protocols and up-to-date software standards, allowing high compatibility with existing software, as well as new generation software.

For further information about Praxis Santé Inc., please visit the Web Site; www.praxissante.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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