trending Market Intelligence /marketintelligence/en/news-insights/trending/hdqtb4ufsh9yua03dvf_4g2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Nexia Health ordered to pay C$2M in legal dispute with vendor

Video

Climate Credit Analytics: Linking climate scenarios to financial impacts

Blog

Global M&A Infographic Q1 2021

Blog

Q1 2021 Global Capital Markets Activity: SPAC IPOs, Issuance in Consumer Discretionary Sector Surge

Blog

COVID-19 Impact & Recovery: Private Equity


Nexia Health ordered to pay C$2M in legal dispute with vendor

Nexia Health Technologies Inc. has been ordered to pay C$2 million in damages to its former software vendor as part of a legal dispute.

An arbitrator ruled against the Canadian health technology company in January, upholding claims for breach of contract brought by the vendor. The C$2 million includes about C$410,000 in interest and C$140,000 for the vendor's share of arbitration costs, Nexia said in an Aug. 13 release.

Nexia Health strongly disagrees with the arbitrator's decision and is exploring legal options to respond to the ruling, the company said. Should the ruling stand, the company said its finances will be adversely affected as the award exceeds its existing cash reserves.