Electronic medical record (EMR) developer Nightingale Informatix of Markham, Ontario, said that it saw a 234 percent increase in sales for its fiscal 2007 year (end-March 31), but it also recorded an increase in its net losses.
The firm posted revenues of $14.1 million Canadian ($13.2 million, U.S.) for the year, a 234 percent increase, compared with the $4.2 million ($3.9 million) booked in fiscal 2006. However, the strong sales growth was tempered by an increase in net losses to $5.7 million ($5.3 million) for the year, compared with the net loss of $3 million ($2.8 million) seen in fiscal 2006.
The firm said the increase in net loss is a result of its additional investment in the U.S. EMR market as well as its integration of HealtheNet and IHPS, which it said grew the overall scale of its operations.
In related news, Nightingale it received official confirmation from Alberta Health & Wellnet that its EMR software received level one and level two re-certification under Alberta's Physician Office System Program Vendor Conformance and Usability Requirements (VCUR), placing Nightingale on the approved VCUR Product Vendor List.