MediSolution Shareholders Vote in Favour of Sale of Healthcare Information Systems Division

* Reuters is not responsible for the content in this press release.

Wed Aug 27, 2008 8:46am EDT

  MONTREAL, QUEBEC, Aug 27 (MARKET WIRE) -- 
MediSolution Ltd. (TSX: MSH) announced today that it has received
shareholder approval for the completion of the previously announced sale
of substantially all of its Healthcare Information Systems division
including its revenue cycle management product (formerly known as MediAR)
to a wholly-owned subsidiary of Healthvision Solutions, Inc., for
$49,500,000 in cash, subject to adjustments which relate to working
capital, including annual support billings. The transaction excludes
Medisolution's core resource management suite of products and the blood
bank product line, which will remain with the company. Ten percent of the
base purchase price, or $4,950,000, is payable on a deferred basis no
later than one year from the closing date. Of the votes cast at the
meeting, 99.9% voted in favour of the transaction.

    The transaction is anticipated to close before the end of August 2008.

    This news release contains forward-looking statements regarding the
anticipated completion of the transaction with Healthvision. Actual
developments may differ materially from those contemplated by these
statements depending upon, among other things, the ability of
MediSolution to satisfy all conditions of closing and the buyer's
performance of its obligations as contemplated by the purchase agreement.
Readers are cautioned that completion of the transaction is not assured.
A copy of the purchase agreement is available on SEDAR at www.sedar.com.
The forward looking statements contained in this news release represent
MediSolution's views and expectations as of the date of this release and
should not be relied upon as representing its views and expectations at
any subsequent date.

Contacts:
MediSolution Ltd.
Paul Lepage
President and Chief Executive Officer
514-850-5040
info@medisolution.com

Copyright 2008, Market Wire, All rights reserved.

-0-
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.