VitalHub Formally Enters Healthcare Blockchain Market
January 11 2018 - 8:00AM
VitalHub Corp. (the “Company” or “VitalHub”) (TSXV:VHI), is pleased
to announce its entrance into the Healthcare Blockchain market.
After extensive research and consultation, the Company believes it
is strategically positioned to capitalize on the sizeable
opportunity to implement disruptive solutions into the fragmented
digital health landscape. Over the past year, the application of
Blockchain technology in the Healthcare sector has experienced
significant traction and endorsement, as “Blockchain technology (…)
holds the potential to save billions of dollars by optimizing
current workflows and disintermediating some high-cost
gatekeepers.” (“Blockchain Technology in Global Healthcare,
2017-2025,” Frost & Sullivan, June 2017.)
The Blockchain market is demonstrating appreciable growth across
the Healthcare sector, and is expected to experience continued
wide-spread adoption and use. “Industry projections expect the
global market to grow to $2.3 billion by 2021, up from roughly $340
million in 2017.” (“Blockchain Poised for More Growth in 2018,”
Decision Research Group, December 2017.)
The Company believes it is well-suited to seize this market
opportunity as it possesses: (i) comprehensive domain expertise and
understanding of the digital healthcare marketplace, (ii) a
management team with a proven track record of delivering and
implementing large-scale projects, and scaling healthcare business
internationally, (iii) a strong and growing customer base of 200+
customers who can immediately be sold value-added Blockchain
solutions, and (iv) is supported by its experienced technology
team, who have an established record building innovative healthcare
software solutions.
VitalHub’s strategy as it embarks upon this opportunity is to
build applications that address the interoperability of Healthcare
applications across the continuum of care, and are immediately
saleable to its existing customers. According to Frost &
Sullivan, “Lack of interoperability costs 150,000 lives and $18.6
billion per year.” The Company plans to partner with global
consulting groups who are leading the charge in the proliferation
of Blockchain technology throughout the Healthcare ecosystem, and
aims to establish an international presence as a leader in
Healthcare Blockchain solutions. Vitalhub plans to build its
Blockchain business and will continue to pursue its aggressive
M&A strategy that is successfully underway.
“Following our review of Healthcare delivery challenges, we’ve
decided that Blockchain represents a great opportunity for growth
and believe that VitalHub, because of its technology, customer
base, management team, and healthcare domain expertise, has the
ability to successfully execute on an international basis. We are
excited to continue this journey,” said Dan Matlow, CEO of
VitalHub.
ABOUT VITALHUB:
VitalHub (the "Company") uses web, mobile, and Blockchain
technology to create disruptive SaaS-based healthcare applications
that solve industry-wide problems. VitalHub's aim is to create
high-value, secured solutions that enable broad interoperability
among existing health data systems. Vitalhub is primarily focused
on working with organizations in the Mental Health and Long-Term
Care space, to further extend organization's applications across
the continuum of care, powered by the security, efficiency, and
trust of Blockchain technology.
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 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, and Director(416)
727-9061dan.matlow@vitalhub.com
Vitalhub (TSXV:VHI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Vitalhub (TSXV:VHI)
Historical Stock Chart
From Apr 2023 to Apr 2024