Wellington Financial completes $12 million financing for Nightingale Informatix Corp.
Toronto, Ontario (April 19, 2007) - Wellington Financial LP, a privately held specialty finance firm, today announced that it has completed a previously announced $12 million debenture financing for Nightingale Informatix Corp. (“Nightingale”, NGH-TSXV). Participating in the financing is Export Development Canada, a Wellington Financial Fund III limited partner. Nightingale intends to use the funds to complete its acquisition of VantageMed Corp., a U.S.-listed practice management software supplier.
Oslers Hoskin & Harcourt LLP and Cassels Brock & Blackwell LLP provided legal advice for this transaction.
Since inception, Wellington Financial LP has led or participated in over $200 million of transactions, making it one of the most active funds of its kind in Canada.
About Wellington Financial LP
Wellington Financial LP is a privately held specialty finance firm providing operating lines of credit from $1 million to $5 million; term and amortizing loans up to $30 million; and venture debt
loans up to $10 million. Wellington Financial LP is currently deploying a $400 million investment program via its third fund. The fund’s clients vary in size and business model. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to Fund III. Limited partners include several of Canada’s largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at http://www.wellingtonfund.com, or the Wellington Financial team blog at http://www.wellingtonfund.com/blog.
About EDC
Export Development Canada is Canada’s export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC’s knowledge and partnerships are used by 7,000 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and is a recognized leader in financial reporting, economic analysis and has been named one of Canada’s Top 100 Employers for 6 consecutive years.
About Nightingale
Nightingale Informatix Corporation is one of North America’s fastest growing healthcare application service providers (ASP) for outpatient clinics. Nightingale’s Internet-based Electronic Health Record (EHR), Electronic Medical Record (EMR) and practice management solutions are designed to help physicians, clinics, hospitals and other healthcare organizations more efficiently manage their operations and patient records. Nightingale’s products and services offer physicians in United States and Canada leading-edge functionality for clinical documentation, patient scheduling, resource scheduling, billing, transcription, end-to-end coding and claims processing, data management, work flow tools, laboratory interfaces, documentation management and patient portals, along with other real-time services. The company’s proprietary offerings of software include Nightingale On-Demand, Entity and Physician WorkStation, providing physicians with a fully integrated, simple-to-use system that automates daily tasks and creates a single, accessible source of patient data.
For more Information, please contact:
Amy Olah
Marketing Manager, Wellington Financial LP
Tel: (416) 682-6002, .(JavaScript must be enabled to view this email address)
Dave Mason, Investor Relations
The Equicom Group
Tel: (416) 815-0700 x. 237, .(JavaScript must be enabled to view this email address)
Phil Taylor, Senior Advisory - Media Relations
Export Development Canada
Tel: (613)598-2904