Pulse Systems, Inc. agreed to acquire Practice Management Business from Nightingale Informatix Corporation (TSXV:NGH) for $12.8 million in the quarter ended on September 30, 2015. Under the terms of the transaction, Pulse Systems will pay $11 million, less $3.0 million of holdbacks. In addition, if the business meets certain financial targets within the first six months post-closing, Nightingale would also receive a one-time additional payment of $1.75 million. Practice Management business includes Medrium, Ridgemark, Secure Connect and Northern Health Products. Transaction will be financed with internal financing.

Practice Management business reported revenue of $3.7 million at the year ended December 31, 2014. In conjunction with the sale, Nightingale entered into a mutual non competition agreement with Pulse Systems for a period of three years, whereby Nightingale Informatix Corporation would not compete in the United States market, while Pulse System would not compete in Canada. Transaction is subject to TSX Venture Exchange approval, approval of creditors and other customary closing conditions. Transaction will contribute to Cegedim SA consolidated results starting in Q4 2015. Guillaume DE CHAMISSO of PRPA Agency acted as public relationship advisor for Pulse Systems, Inc.