HATBORO, Pa., May 26 /PRNewswire-FirstCall/ -- InfoLogix, Inc.
(Nasdaq: IFLG), a leading technology provider of enterprise
mobility solutions for the healthcare and commercial industries,
today announced that its board of directors (the "Board") has
initiated a review of strategic alternatives to address various
financial and operational challenges facing the Company and to
identify the most effective means for optimizing value for
stockholders, including reviewing proposals for additional
financing, further restructuring its debt and effecting one or more
strategic transactions. In response to such proposals and to
explore a broad range of strategic alternatives, the Board met and
formed a special committee of independent directors (the
"Committee"), comprised of Mel
Keating, Thomas Miller and
Thomas Lynch. The Committee is
working with financial advisors to assist in its review of
strategic alternatives and, upon completion of its review, will
make its recommendation to the Board.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090618/NE35135LOGO
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There is no assurance that a review of strategic alternatives
will result in the proposal or completion of any transaction with
acceptable terms. The Company does not expect to update the
market with any further information on the process unless and until
disclosure is deemed appropriate.
About InfoLogix, Inc.
InfoLogix is a leading provider of enterprise mobility solutions
for the healthcare and commercial industries. InfoLogix uses the
industry's most advanced technologies to increase the efficiency,
accuracy, and transparency of complex business and clinical
processes. With 19 issued patents, InfoLogix provides mobile
managed solutions, on-demand software applications, mobile
infrastructure products, and strategic consulting services to over
2,000 clients in North America
including Kraft Foods, Merck and Company, General Electric, Kaiser
Permanente, MultiCare Health System and Stanford School of
Medicine. InfoLogix is a publicly-traded company (Nasdaq:
IFLG).
Safe Harbor
InfoLogix makes forward-looking statements in this press release
which represent our expectations or beliefs about future events and
financial performance. Forward-looking statements are identifiable
by words such as "believe," "anticipate," "expect," "intend,"
"plan," "will," "may" and other similar expressions. In addition,
any statements that refer to expectations, projections or other
characterizations of future events or circumstances are
forward-looking statements. Forward-looking statements are subject
to known and unknown risks and uncertainties, including the risks
described in our Annual Report on Form 10-K for the period ended
December 31, 2009 and other filings
we make with the Securities and Exchange Commission. In addition,
actual results could differ materially from those suggested by the
forward-looking statements, and therefore you should not place
undue reliance on the forward-looking statements. We do not make
any commitment to revise or update any forward-looking statements
to reflect events or circumstances occurring or existing after the
date of any forward-looking statement is made.
Contact:
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John A.
Roberts
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InfoLogix,
Inc.
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Chief Financial
Officer
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215-604-0691
extension 1102
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SOURCE InfoLogix, Inc.