TORONTO, April 08, 2019 (GLOBE NEWSWIRE) -- VitalHub Corp. (the “Company” or “VitalHub”) (TSXV: VHI) is pleased to announce that it has licensed its MCAP patient flow software solution to Hamad Medical Corporation (“HMC”) in Qatar. HMC is the main provider of secondary and tertiary healthcare in Qatar and one of the leading hospital providers in the Middle East.
VitalHub’s recently acquired subsidiary, Oak Group International (“Oak”), has licensed its web-based patient flow software, MCAP (Making Care Appropriate for Patients), to HMC’s Continuing Care Group to support the implementation of Qatar’s National Continuing Care Strategy.
This agreement follows the completion of a Patient Flow and Care Management Review (“Review”) using the MCAP software that was delivered in partnership with the professional services firm PricewaterhouseCoopers (“PwC”). The Review used the MCAP solution and its evidence-based criteria to identify opportunities to optimize admission and discharge processes at a number of HMC’s continuing care facilities.
HMC piloted Oak’s MCAP solution as part of a series of retrospective reviews across a number of its acute care, rehabilitation, and long-term care facilities in 2016. HMC commissioned MCAP because the real-time evidence-based decision-support capability will assist clinicians and case managers in determining the most appropriate level of care and care setting for patients.
Oak’s relationship with HMC began via the Patient Flow and Care Management Review and has resulted in a material licensing opportunity in 2019. VitalHub sees a significant opportunity to develop recurring revenue opportunities through the introduction of the MCAP solution and partnerships with professional services organizations wherein application of MCAP will help demonstrate cost-saving and quality improvement opportunities related to the optimization of service delivery.
“The development of our relationship with Hamad Medical Corporation serves an important validation of VitalHub’s ability to convert patient flow and care management reviews into concurrent-use licensed products,” said Dan Matlow, CEO of VitalHub Corp. “Moreover, our ability to cultivate and mature relationships with prestigious hospital groups such as HMC demonstrates our ability to serve the criteria and needs of the Middle East market.”
ABOUT VITALHUB:
VitalHub develops mission-critical technology solutions for Health and Human Services providers in the Mental Health (Child through Adult), Long Term Care, Community Health Service, Home Health, Social Service and Acute Care sectors. VitalHub technologies include Blockchain, Mobile, Patient Flow, Web-Based Assessment and Electronic Health Record solutions.
The Company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing an aggressive M&A plan. Currently, VitalHub serves 200+ clients across North America. VitalHub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The Company is publicly traded on the TSX Venture Exchange under the symbol "VHI".
CAUTIONARY STATEMENT
This press release includes forward-looking statements regarding the Corporation and its business, which may include, but is not limited to, statements with respect to the appointment of a new directors. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity, and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release, including the share consolidation proposal, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the technology industry, failure to obtain regulatory or shareholder approvals, market conditions, economic factors, the equity markets generally and risks associated with growth and competition. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Corporation undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
CONTACT INFORMATION
Dan Matlow
Chief Executive Officer, Director
(416) 727-9061
dan.matlow@vitalhub.com