Based in Toronto (Canada), the company has been a Microsoft Gold Certified Partner since its inception in 1999. It was the first Canadian partner to be designated a Microsoft Supply Chain Management (SCM) "Go-To" Partner and, in 2001, was the sole recipient of Microsoft's .NET award for being the first company to deliver Microsoft's vision of 'technology-as-a-service' to a business community. Since then it has gone on to receive national and international awards and accolades. In 2011, QLogitek was 1 of 3 global finalists in the Application Integration category in the Microsoft Worldwide Partner Awards. In this same year, it won Microsoft Canada's IMPACT Award for being Canada's top application integration solutions provider. Most recently, in 2012, QLogitek was recognized by the Retail Council of Canada (RCC) as having delivered Canada's top technology solution. QLogitek's customer LCBO deployed its cloud-based Inbound Management System (IMS) for scheduling to warehouses and its Suppler Order Management System (SOMS) for purchase order automation to win this prestigious award.
QLogitek will be operated as a subsidiary of SEB while maintaining it's current brand and software/service/solutions offerings. QLogitek's supply chain solutions and systems integration expertise will significantly enhance SEB's health claims processing solutions capability to its clients. For more information, please visit www.qlogitek.com.
SEB is a technology company providing software, solutions and services specializing in "managing group benefit solutions and healthcare claims processing environments, managing Human Resource processes and requirements and automating business processes" for corporate, government and non-profit clients. Health Claims Processing is a $56.0 billion industry, of which over $33.0 billion is employee group benefit plans and over $23.0 billion of other healthcare benefit claims (e.g.: workers compensation claims, travel benefits, various federal and provincial government programs, dental associations, drug associations, etc.). In the employee group benefits industry, SEB operates a licensed Third Party Administrator ("TPA") and Insurance Broker utilizing its software platform to provide "totally hosted PCI compliant supply chain solutions" for managing the complete group benefits business processes between insurers, clients, brokers, consultants, technology service providers and healthcare service providers. In healthcare claims processing, SEB also operates as a systems integrator utilizing its technology platform together with other technologies to provide customized solutions for highly specialized environments (e.g.: travel claims, etc). The technology and expertise deployed in this area also allows SEB to provide other related supply chain, systems integration and human resource solutions and services to the same clients. For more information, please visit www.seb-inc.ca.
John McKimm, President/CEO/CIO of SEB commented, "QLogitek is an established company providing world-class supply chain software, solutions and services to a number of Canada's leading companies who sell products and services to consumers (both individual and corporate) globally. SEB views 'health claims processing' as a supply chain environment. The QLogitek supply chain software solutions and PCI level one compliant hosting environment, combined with SEB's leading rules based, fully integrated adjudication software platform will give SEB the capability to provide health claims processing clients with highly customized, fully integrated - administration, billing, adjudication, claims paying, reporting - technology environments which are very unique in the health claims processing industry. The QLogitek acquisition enhances SEB's ability to offer efficient and highly cost effective functionality, features, and comprehensive services to this industry that are not readily available in the Canadian marketplace today. Mr. Qureshi is a technology visionary and has built and deployed many innovative technology solutions for leading global companies and organizations. Mr. Qureshi's experiences will add significantly to the Board of SEB, particularly in the areas of technology vision, practical business processes and thought leadership. We are pleased to welcome Mr. Qureshi to the Board of Directors of SEB."
Latiq Qureshi, Pres/CEO, QLogitek, commented, "Mr. McKimm and I have been business associates for many years. We are very excited about the SEB vision and see numerous applications for QLogitek technology solutions in healthcare. QLogitek is a well established solutions provider offering supply chain expertise and software. The 'health claims processing' industry is a massive industry. QLogitek expertise and software solutions, combined with the leading SEB technology solutions (in adjudication and administration) and expertise is a powerful combination in an industry where critical and core functionality still operates on 25 year old mainframe environments. Additionally, SEB management will bring opportunities and business relationships to enlarge QLogitek's core supply chain software and systems integration business. The fit between QLogitek and SEB creates opportunities for both companies to further QLogitek supply chain solutions into new marketplaces, particularly in healthcare. QLogitek and SEB have been co-located for a number of months. We are collaboratively engaged in joint technology development and a number of joint client initiatives, including synergistic acquisitions. There are many additional synergies that both companies will enjoy as we move forward together in providing software, solutions and services to our clients."
This press release is intended for information purposes only. Statements made in this press release may contain "forward looking" information about the company's future business prospects. These statements - while expressed in good faith and believed to have a reasonable basis - are subject to risk and uncertainties that could cause actual results to differ materially from those set forth or implied by such forward looking statements. Investors should consult a professional advisor before making any investment decision.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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