Quadrant4 Systems Corporation Announces Acquisition of Health Insurance SAAS Platform

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Quadrant4 Systems Corporation (OTCBB: QFOR) today announced that it has entered into a letter of intent to acquire empowHR, Inc. a provider of a SaaS based platform technology for the Health Insurance and employee benefits administration sectors.

Post closing of this transaction, Quadrant4 will be integrating empowHR technology into its Cloud based Health Exchange platform. Quadrant4 will also expand the empowHR platform into a full scale market place portal rich with features that include:

  •     Integration of all employer sponsored insurance and benefits as well as work-site benefit products for enrollment, communication and administration
  •     Agency portal for management and administration of multiple client types incorporating insurance, employee benefits and financial services into a single platform
  •     Employer portal for managing insurance, employee benefits, human resources, financial services and integration with third party product providers such as payroll systems, human resource systems, and/or other administrators
  •     Employee portal for managing all benefit programs, change of family status and any employer required activity for on-boarding, off-boarding, training, time and attendance
  •     Analytics capable of providing insight into employee behavior, benefit expense trends and others

empowHR technology has been in deployment for over ten years and has been used by over 2 million members for various benefits administration between licensing, OEM and recurring subscription based models. Its key user groups and customers include insurance companies, agencies, third party administrators, health plans, and large employers.

Quadrant4 intends to complete the transaction using mostly restricted common shares once due diligence is completed. The executive and senior management of empowHR will continue to build and deliver significant revenue streams and market share for Quadrant4’s health care vertical.

Dhru Desai, Chairman of the board of Quadrant 4 stated “… our combination will accelerate the development of empowHR technology beyond its current capabilities to the next generation market requirements…”
Robert Steele, Founder and CEO of empowHR stated “… our ability to deliver the most complete benefits administration, communication and enrollment tool in the industry, along with our “Live in Five” methodology, coupled with the ability to capitalize on Quadrant4’s significant development capability will allow us to close bigger deals, provide custom development, and deploy significant enhancements quicker which will provide the fuel our jet engine is looking for …”

About empowHR:
EmpowHR was originally built in 2000 and has been successfully deployed to meet a very diverse set of business needs all focused around benefits enrollment, communication and administration. There are three key elements which sets apart empowHR from its competitors. The first item is our “Live in Five” methodology. An employer could be enrolling in five days or less rather than the traditional five to ten weeks. This allows our brokers, consultants and marketing organizations to compete for business even up to the very last minute. The second is our ability to manage any product type, from any provider, on any platform, in a number of enrollment configurations. Finally, our ASSET deployment model allows us to teach our “Live in Five” methodology to our clients and allow them to manage the configuration, timing and support elements all within their control. Thus, empowHR can manage all client types, client size and client complexity.

About Quadrant4 Systems Corporation    
Quadrant4 Systems Corporation delivers end-to-end information technology solutions to its clients through a unique blend of consulting, software development & maintenance, cloud based products and technology from its global delivery centers. The company currently focuses on Financial Services, Health Care, Retail, Manufacturing and Telecommunication sectors with a broad spectrum of services and technology practices that include ERP, SCM, CRM, e-Commerce, m-Commerce, SFA, Microsoft, Java and Legacy platforms, BI/DW, testing, platform migration, web technologies and others. The company plans to enter the IT enabled and managed services sector and cloud based services through business acquisitions and/or combination opportunities in the near future to further execute its articulated business strategy.

Forward-Looking Statements
This release contains forward-looking statements which are subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipate," "expects," "estimates," and similar expressions) should be considered to be forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934, as each is amended, for which the Private Securities Litigation Reform Act of 1995 provides a safe harbor. Certain factors (including but not limited to those risk factors identified from time to time in our filings with the Securities and Exchange Commission as well as changes in economic conditions; outcome of negotiations; changes in the Company’s access to necessary capital; outcome of litigation; volatility of capital markets; variability and timing of business opportunities; changes in accounting policies and practices; the effects of internal organizational changes; adverse state and federal regulation and legislation; and the occurrence of extraordinary or catastrophic events and terrorist acts; or other unforeseen changes in circumstances) could cause actual results and conditions to differ materially from those projected in such forward-looking statements. We do not undertake any obligation to release publicly revised or updated forward-looking information, and such information included in this release is based on information currently available and may not be reliable after this date.

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