Alliance MMA to Acquire SCWorx

Alliance MMA Inc. and SCWorx Corp., a privately held provider of data content and services related to the repair, normalization and interoperability of information for healthcare providers and big data analytics for the healthcare industry, announced the signing of a definitive agreement under which AMMA will acquire SCWorx in an all-stock transaction, resulting in SCWorx acquiring a controlling interest in AMMA.

Upon closing, on a pro forma basis for the combined company, the existing AMMA and SCWorx shareholders are expected to own approximately 20 percent and 80 percent, respectively, of the issued and outstanding common stock of AMMA (based upon a presumed share price for AMMA of $0.67 on the Closing Date, subject to adjustment if the per share price of AMMA stock is less than $0.67 per share at the Closing Date.).

The transaction will result in a combined company primarily focused on connecting the three core healthcare provider systems:

* Materials Management Information System (MMIS);
* Clinical Information Systems or Electronic Medical Record (EMR); and
* Charge Description Master (CDM), enabling healthcare providers’ enterprise systems to work as a single, more accurate, automated and seamless business management system.

SCWorx offers an advanced software solution for the management of health care providers’ foundational business applications. Together these software systems have been credited with the healthcare providers’ customers tending to realize reduced medical expenses, while healthcare providers have tended to experience expanded revenues and more successful and safer clinical outcomes.

The SCWorx software solution ultimately transforms many aspects of the healthcare providers’ business through its delivery of highly accurate, real-time information that offers the executives of these healthcare providers the ability to optimize many areas of their day-to-day operations, negotiate better contracts with their vendors and payors and make better decisions with respect to strategic purchases.