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SCWorx Acquisition Closed
Full Article 7 minutes read

Initial Listing on Nasdaq Approved

Begins trading under symbol WORX

NEW YORK–(BUSINESS WIRE)–SCWorx, Corp. (f/k/a Alliance MMA, Inc.) (Nasdaq:WORX) announced the
Company successfully completed the acquisition of SCWorx Corp. on
February 1, 2019. Additionally, the Company completed its initial
listing on the Nasdaq and begins trading under the symbol WORX on
February 4, 2019. As a result, the Company has over $5.0 million of cash
to fund its growth strategy.

“SCWorx started as a small team of hard-working individuals focused on
providing the best SaaS based advanced solution to help manage health
care provider’s complex supply information. With the recent healthcare
reform, hospitals are relying on larger technology applications such as
enterprise resource planning (“ERP”) solutions which provide the
necessary operational components to manage the extremely complex and
intricately woven business of healthcare. These large and sophisticated
systems require a constant flow of rigid, structured data to function in
an optimized fashion. For a variety of reasons not the least being that
the majority of healthcare data is manually created, the data currently
populating these large and connected systems is inconsistent and
variable. Our SaaS based suite of content delivery systems contains the
necessary artificial intelligence (“AI”) to rapidly repair and expand
the data, providing highly granular, synchronized real-time data
seamlessly integrated via automation back into all the major
foundational system applications used by healthcare providers”, said
Marc Schessel CEO. Schessel added, “With the completion of the
acquisition and listing on the Nasdaq, we now have the capital to grow
our business and develop additional features and functionality our
customers are requesting from us. Being a Nasdaq listed public company
strengthens our stature with current and potential customers”.

About SCWorx-

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.

Forward-looking Statements

This press release contains “forward-looking statements” that involve
substantial risks and uncertainties for purposes of the safe harbor
provided by the Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical facts, included in this
press release regarding strategy, future operations, future financial
position, prospects, plans and objectives of management are forward-
looking statements. Examples of such statements include but are not
limited to SCWorx may not actually achieve the plans, carry out the
intentions or meet the expectations or projections disclosed in the
forward-looking statements and you should not place undue reliance on
these forward-looking statements. Such statements are based on
management’s current expectations and involve risks and uncertainties.
Actual results and performance could differ materially from those
projected in the forward-looking statements as a result of many factors,
including, without limitation, the ability to project future cash
utilization and reserves needed for contingent future liabilities and
business operations and the availability of sufficient resources of the
combined company to meet its business objectives and operational
requirements.

No Offer or Solicitation

This communication shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to buy
any securities, nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any
such jurisdiction.

View source version on businesswire.com: https://www.businesswire.com

Contacts

SCWorx Corp.
John Price, CFO
jprice@scworx.com

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