ZoomMed inc.
TSX VENTURE : ZMD

ZoomMed inc.

April 25, 2013 09:46 ET

ZoomMed Signs a US$3.5M Exclusive License Agreement for the Distribution and Licensing of the ZRx Prescriber in the U.S Market

MONTREAL, QUEBEC--(Marketwired - April 25, 2013) - ZoomMed Inc. (TSX VENTURE:ZMD), is very pleased to announce the signature of an Exclusive License Agreement regarding the rights to distribute, license and sub-license the ZRx Prescriber in the United States for a consideration of more than US$ 3.5M, with EvEMR Inc., a Washington D.C. based company.

In consideration of the grant of the License, EvEMR will pay to ZoomMed; a cash amount of U.S. $1,500,000, will issue to ZoomMed two million (2,000,000) Preferred shares for an amount of U.S. $2,000,000 and two million (2,000,000) participating, non-voting shares in the capital stock of EvEMR representing an additional 10% of the total economic interest in EvEMR, which economic interest value has not yet been determined.

"This Agreement does not only offer short-term economic benefits, it will advantageously propel ZoomMed's and EvEMR's healthcare solutions throughout the huge U.S. market, which will translate into positive long-term economic benefits to all ZoomMed Shareholders. The U.S. based presence of EvEMR, the expertise of the Partners and its management team will be a definite additional strategic key element to our success" said Mr. Yves Marmet, President and CEO of ZoomMed.

"Signing this agreement represents a timely opportunity, since EvEMR's product line, which now includes the "ZRx Prescriber", will be introduced to the American Psychiatric Association (APA) annual meeting, which will be held in San Francisco, California in May 2013. The APA represents over 33,000 psychiatrist physicians from the United States and around the world." added Mr. Marmet.

During 2012, ZoomMed signed two software development agreements totaling $1,450,000 and the creation of a partnership with EvEMR, which was established to implement and commercialize, throughout The United States of America, an Electronic Medical Record (EMR) designed for all behavioral health providers. Since May 29, 2012, the Company was holding 40% of the equity shares and 50% of the voting shares in EvEMR. As a result of this new Agreement, ZoomMed will now hold 50% of the equity shares, 50% of the voting shares and 40% of the preferred shares of EvEMR Inc.

"The ZRx Prescriber reaches new frontiers"

For further information about EvEMR and its healthcare solutions, please visit the following Web Site; www.evemr.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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