VitalHub Announces licensing of TREAT and B Care solutions to the Government of Yukon to improve the management and treatment...
January 28 2019 - 7:30AM
VitalHub Corp. (the “Company”) (TSXV: VHI) is pleased to announce
the sale of both the TREAT and B Care solutions to the Government
of Yukon Health and Social Services (H&SS) to support its
Mental Wellness and Substance Use (MWSU) directorate. This
sale follows the Government of Yukon’s issuance of the Request For
Proposal (RFP): Solution for an Electronic Medical Records (EMR)
System for Mental Wellness and Substance Use. The RFP follows the
development of Yukon’s 10-yr strategy for improving Mental Wellness
outlined in Forward Together: Yukon Mental Wellness Strategy (2016
- 2026).
VitalHub was awarded the contract to support
H&SS and MWSU with the electronic clinical and patient
management processes necessary to treat its mental health
population.
The Government of Yukon’s initial commitment
includes a 3-yr term with an option to extend the size and scope of
usage. TREAT and B Care are being licensed as a hosted service
(SaaS). VitalHub is anticipating revenue during the initial term of
$500,000 the majority of which is licensing.
VitalHub’s TREAT client management and B Care
electronic medication administration record (eMAR) software
solutions are being implemented to support the clinical and patient
management processes necessary to improve the delivery of services
across the territory. The VitalHub EMR solution will enable the
Yukon to manage their numerous assessment templates, assimilate
pertinent health information to show a clients consolidated health
information, demonstrate clinical progress, and track outcomes. The
solution will provide the electronic medical record system and
support the programming and reporting requirements of the
Government of Yukon while eliminating the need for legacy
documentation systems.
“We are excited to have been selected to provide
the client management system that will support the Government of
Yukon as they embark on a territory wide initiative to build a
collaborative and integrated mental wellness system with First
Nation governments and community partners. This initiative reflects
what we’re seeing as a trend across Canada, which is a recognition
by provincial leaders that change, and electronic medical record
systems have to be implemented at a regional scale. We’re seeing
more of these large-scale projects in the mental health and social
services sectors going to tender across the country, and think that
we are well positioned to grow our business and support governments
in leading to improved services, support and outcomes,” said Niels
Tofting, EVP, Business Development and Marketing.
Data from Yukon indicates that an estimated
7,500 residents struggle with mental health or substance use per
year. In addition, on average 1,000 emergency department visits per
year in Yukon are directly related to substances and alcohol. The
introduction of VitalHub will provide a system that enables care
providers and programs to work together to provide coordinated,
person centered, holistic and seamless care, providing the right
information about the right client at the right time in an
environment with unique geographic and cultural needs.
“Our Mental Wellness and Substance Use branch
will benefit from VitalHub’s demonstrated expertise in providing a
much needed specialist EMR system that will help us effectively
manage our clients’ varied and at times complex mental health and
recovery needs”, said Patricia Living, Director of Communications
for Yukon Government Health and Social Services.
ABOUT VITALHUB:
VitalHub develops and supports mission-critical
information systems in the Social Service, Mental Health (Child,
Youth and Adult), Long Term Care, Community Health Service, Home
Health and Hospital sectors. VitalHub technologies include
Blockchain, Mobile, and Web-Based Assessment and Client Management
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 innovation hub in Sri Lanka. The
Company is publicly traded on the TSX Venture Exchange under the
symbol "VHI".
ABOUT THE GOVERNMENT OF YUKON HEALTH AND SOCIAL SERVICES
Vision: Healthy communities – wellness for
all.
Mission: To promote, protect, and enhance the
well-being of Yukon people through a continuum of quality,
accessible, and appropriate health and social services. Implicit in
much of the work that we do in Health and Social Services is a
belief in the importance of providing supports and opportunities
that enable each person to reach his or her maximum potential -
ensuring that each of us is empowered to enjoy and participate as
fully in life as possible, regardless of our circumstances.
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 MatlowChief Executive Officer, Director(416)
727-9061dan.matlow@vitalhub.com
Vitalhub (TSXV:VHI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Vitalhub (TSXV:VHI)
Historical Stock Chart
From Jul 2023 to Jul 2024