VitalHub Announces Licensing of Patient Flow Solution to Leading Middle East Hospital
April 08 2019 - 7:30AM
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",
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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
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