Quture (QUTR) Completes Funding for Proctoring Component to Expand QualOptima Software Product & Operations
April 16 2014 - 8:15AM
Marketwired
Quture (QUTR) Completes Funding for Proctoring Component to Expand
QualOptima Software Product & Operations
Additional Potential Annual Revenue of $572,300,000 From U.S.
Hospital Market From Proctoring Component of QualOptima
DAYTONA BEACH, FL--(Marketwired - Apr 16, 2014) - Quture
International, Inc. (OTCQB: QUTR)(Q) today announced successful
closing of its Private Placement Memorandum (PPM) to capitalize the
Proctoring Component of its QualOptima product and to implement Q's
Business and Strategic Plans to transition the Company from
software development to revenue-based operations. Placement of the
initial tranche to capitalize up to $562,500 was published on
February 18, 2014, and the Company is now satisfied with
capitalization of this PPM to complete and close the offering.
The Proctoring Component provides Q with an additional annual
revenue potential of $572,300,000 from U.S. hospitals alone based
on the size of market (5,723 hospitals and almost 17,000 Joint
Commission accredited healthcare organizations).
Use of proceeds from the capitalization of this PPM is budgeted
to fund development of the Proctoring Component of QualOptima,
scheduled for release in the summer of 2014, will complete the
Professional Practice Evaluation Application. The performance
measurement/peer review and triggers applications have been
developed, tested and demonstrated in the Clinical Trial with the
University of Miami/Jackson Memorial Hospital and initial sales
awaiting installations at three (3) hospitals. Use of proceeds is
further budgeted for (1) operations, including additional staffing
to hire an information technology expert with extensive
InterSystems technology expertise and experience as Chief Software
Architect to support Sherif Elfayoumy, Ph.D., Chief Technology
Officer, and additional sales & marketing staff, (2) completion
of 10-K and 10-Q past due filings and pending issues from the
reverse merger of the Company, (3) patent and trademark filings,
and (4) intensified marketing and sales of QualOptima, including
launch of the new Quture website.
Q further anticipates subsequent capitalization from funding
subsidiary companies of Quture for development of a new QualOptima
application targeted at $2.5 million and completion of strategic
planning for its personalized/individualized medicine subsidiary
targeted at $10 million.
The Proctoring Component of QualOptima will again propel and
differentiate Quture in its first mover position to transition from
peer review to clinical performance and outcomes measurement in the
healthcare analytics market. Proctoring is required to determine
current clinical performance for all physicians and clinical
practitioners using performance analytics by the Joint Commission
for hospital compliance with its accreditation standards. This is
the third requirement of Focused and Ongoing Professional Practice
Evaluation (FPPE-OPPE). When Q introduces this next application to
electronically capture clinical performance and outcomes data, its
software will be even further differentiated in this mandated
market.
The QualOptima Connectivity & Analytics System is
the complete solution for transformative and disruptive technology
to enhance clinical performance and achieve optimal patient
outcomes. Use of proceeds from this new funding will be to expand
the program with clinical metrics for educational and performance
measurement for new medical procedures, diagnostic and treatment
modalities, and new medical devices and omics. The proceeds further
provide additional funding for patent protection of the
intellectual property embedded in the Proctoring Application.
"Funding the Proctoring Application is exciting for Q," said
Landon Feazell, Chairman & CEO of Quture, "because it expedites
operations as Q begins to install the existing Performance/Peer
Review Application and become revenue-based. We have been
interviewing and in negotiations for the talent and skill sets we
need for additional marketing and sales, installation, training and
support of QualOptima. It also allows us to continue and complete
patent applications for the total product array prior to installing
these applications. This funding is anticipated to lead to revenue
and even additional funding for continued growth of the QualOptima
product to achieve its total strategic vision and planned
subsidiaries. And completion of compliance for all requirements of
FPPE-OPPE significantly differentiates the product and the
consulting opportunities for QualVal Solutions. We will now be even
more capable of re-introducing our transformative software to the
hundreds of hospitals that have previously engaged Q's predecessor
companies."
Feazell added: "Q looks forward to announcing not only our
strategies but revenue from related development of clinical
performance metrics. The Proctoring Component provides immediate
access to medical device, pharmaceutical and omics companies, which
significantly augments our customers for marketing and sales not
only for the product and its clinical analytics metrics but for
data sales in the future. Data sales are widely believed to produce
as much as 12 times the revenue from licenses."
About Quture International, Inc. www.quture.com
Quture International (OTCQB: QUTR)("Q") is the proven and
experienced clinical performance and outcome analytics and
solutions company in American healthcare. Q's first-to-market
clinical intelligence software is the complete solution for
healthcare providers, payers, employers, and insurance companies
seeking to achieve optimal clinical, financial and operational
outcomes. Q's QualOptima Connectivity & Analytics System
empowers value-driven, patient-centered, personalized care focused
on real-time and predictive patient management and patient safety,
with optimal quality demonstrated by outcomes correlated with
resource use, revenue and cost. As an Application Partner of
InterSystems Corporation, Q's software operates on their
HealthShare strategic technology platform to capture, integrate,
aggregate, and analyze data transformed to knowledge in Q's
innovative second-generation database. InterSystems
(www.intersystems.com) has customers in over 100 countries with 80%
of top hospitals in America currently utilizing its technology. Q's
core competence and value proposition lies in its embedded
evidence-based metrics, clinical content and analytic algorithms
developed from over 35 years of measuring performance in hundreds
of hospitals, physician organizations and HMO's.
As the free enterprise solution to improving health and
healthcare while reducing costs, Q is positioned through its
disruptive technology to become the foremost global provider of
value-based clinical intelligence and knowledge solutions. Q is a
Nevada corporation based in Daytona Beach, Florida, and trades on
the OTC exchange under the symbol 'QUTR.'
Forward Looking Statements: This release contains
forward-looking statements, including, without limitation,
statements concerning our business and possible or assumed future
results of operations. Our actual results could differ materially
from those anticipated in the forward-looking statements for many
reasons including: our ability to continue as a going concern,
adverse economic changes affecting markets we serve; competition in
our markets and industry segments; our timing and the profitability
of entering new markets; greater than expected costs, customer
acceptance of our products or difficulties related to our
integration of the businesses we may acquire; and other risks and
uncertainties as may be detailed from time to time in our public
announcements and SEC filings. Although we believe the expectations
reflected in the forward-looking statements are reasonable, they
relate only to events as of the date on which the statements are
made, and our future results, levels of activity, performance or
achievements may not meet these expectations. We do not intend to
update any of the forward-looking statements after the date of this
document to conform these statements to actual results or to
changes in our expectations, except as required by law. There is no
assurance that a definitive agreement will be completed.
Contact: Windmill Lauren Milner President Phone: 855-652-5310
Email: lauren@choosewindmill.com