Certive Announces Expanded Scope of Work with Major Client and the Closing of its Current Convertible Debt Offering
SCOTTSDALE, AZ and VANCOUVER, BC / ACCESSWIRE / March 6, 2019 / Certive Solutions Inc. (OTCQB: CTVEF; CSE: CBP) (''Certive'' or the ''Company''), is pleased to announce the following business developments.
Expanded Scope of Work - Certive has concluded negotiations and expanded its Scope of Work with its previously announced client, a significant Healthcare System in the Midwest. Certive has been providing its Omega Division's Lost Charge Recovery (LCR) services to one of the hospitals for the previous seven months. The expanded Scope of Work will allow Omega to immediately begin providing such services for an additional five hospitals in this System. Certive anticipates expanding its services to the entire Hospital System throughout 2019.
Certive projects that after completion of the onboarding of these five new hospitals the Company will achieve positive, consolidated cash flow from operations by August 31, 2019, the end of the 1st Quarter of its fiscal year.
Under the leadership of the Company's Executive Team and its Chief Growth Officer, Certive has been expanding its sales pipeline quite aggressively over the past four months. The Company pursues sales opportunities generated by its eleven (11) Regional Sales Consultants located strategically throughout the U.S. as well as from its ten (10) Advisory Council members.
Closing Convertible Debt Offering - Certive is in the final stages of raising $1,500,000 of working capital through its issuance of 8% Convertible Notes due in two years convertible at the greater of US$0.06 or a 25% discount to the Company's share price on the date of conversion. Certive anticipates this Offering will close on or before March 31, 2019. For more information regarding the Offering, please directly contact Tim Hyland, Chief Financial Officer, at [email protected].
For more information regarding this announcement, please visit our website at www.certive.com, or contact Certive directly at 480-922-5327.
Investor Relations, Certive Solutions Inc.
About Certive Solutions Inc.
Certive Solutions Inc. (Scottsdale, Arizona) provides revenue cycle management solutions to the U.S. healthcare market through it's wholly owned U.S. operating subsidiary, Certive Health Inc. (Certive Health). Certive Health's claim audit and recovery services, billing services, and software solutions help providers work with payers to efficiently manage the reimbursement process and improve financial performance. Certive Health's highly skilled and experienced management team, combined with proprietary workflow and analytics, audit and identify, and bill and collect, underpayments in accordance with contractual obligations between the public or commercial insurance carrier and the designated provider. The healthcare market is changing. Certive Health works with clients to provide efficient and effective solutions aligned with reform initiatives to improve healthcare and reduce costs.
FORWARD-LOOKING AND OTHER STATEMENTS
This press release contains forward-looking statements. These statements relate to future events or future performance and reflect our expectations and assumptions regarding our growth, financial performance, results of operations, business development activities and business prospects and opportunities. Such forward-looking statements reflect our current beliefs and are based on information currently available to us. In some cases, forward-looking statements can be identified by terminology such as ''may'', ''would'', ''could'', ''will'', ''should'', ''expect'', ''plan'', ''intend'', ''anticipate'', ''believe'', ''estimate'', ''predict'', ''potential'', ''continue'', or the negative of these terms or other similar expressions concerning matters that are not historical facts.
A number of factors could cause actual events, performance or results, including those in respect of the foregoing items, to differ materially from the events, performance and results discussed in the forward-looking statements. Factors that could cause actual events, performance or results to differ materially from those set forth in the forward-looking statements include, but are not limited to:
- the effect of continuing operating losses on the Company's ability to obtain, on satisfactory terms, or at all, the capital required to remain a going concern;
- the ability of the Company to attract new customers and to realize its business objectives;
- the ability of the Company to retain its customers and to maintain existing contractual obligations, and to realize revenues from existing contracts;
- the ability of the Company to reduce costs and improve scalability of its operations;
- the ability to obtain sufficient and suitable financing to support operations, development and commercialization of our services;
- the risks associated with the development of our technology;
- the risks associated with the increase in operating costs from additional development costs and increased staff;
- the ability of the Company to execute appropriate strategic growth initiatives including acquisitions;
- the timing and nature of feedback from customers; and
- our ability to successfully compete in our targeted markets.
Although the forward-looking statements contained in this press release are based on what we consider to be reasonable assumptions based on information currently available to us, there can be no assurance that actual events, performance or results will be consistent with these forward-looking statements, and our assumptions may prove to be incorrect. These forward-looking statements are made as of the date of this press release. Forward-looking statements made in this press release are made as of the date of the original document and have not been updated by us except as expressly provided for in this press release. As required by securities legislation applicable to reporting issuers, it is our policy to update, from time to time, forward-looking information in our periodic management discussions and analyses and provide updates on our activities to the public through the filing and dissemination of news releases and material change reports.
SOURCE: Certive Solutions, Inc.