/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES/
Revenue Increased 39% Sequentially Over Prior
Quarter
VANCOUVER, May 29, 2018 /CNW/ - H-Source Holdings Ltd.
(TSXV: HSI; OTCQB: HSCHF) (the "Company" or
"H-Source") reported its Q1 2018 financial results for the
three- month period ending March 31,
2018. All results are reported under International Financial
Reporting Standards ("IFRS") and in U.S dollars, unless otherwise
specified.
Operational Highlights
- Q1 revenue growth increased sequentially by 39% to $294,458 consisting of $241,361 as revenue and net commission sales of
$53,097;
- Contracted facilities that have signed up to participate on the
network increased by 4% to 1105; platform participants now include
IDNs, hospital associations, surgery centers, post-acute and
hospital pharmacies;
- Active facilities that have bought or sold on the network
reached 215 a 12% increase over Q4;
- Total value of inventory on the platform available for sale
grew to $1,643,100 at the end of
Q1.
Q1 2018 Key Performance Indicators
|
Q4 2017
|
Q1 2018
|
% Growth
|
Revenue
|
$179,096
|
$294,458
|
39%
|
Contracted
Facilities
|
1,065
|
1,105
|
|
Active
Facilities
|
189
|
215
|
12%
|
Inventory Value on
the Platform
|
$1,577,444
|
$1,643,100
|
4%
|
John Kupice, CEO and director,
commented "Q1 Revenue came in above our internal plan with our
transaction pipeline growing for positive performance in
2018. We anticipate material revenue growth into Q2 as we are
currently experiencing both increased transactions and active
hospitals growth. We continue to engage in discussions with new
healthcare facilities and expect continued adoption across the
U.S. As more facilities continue to experience the cost
savings of the platform, it results in increased
transactions. 2018 is the year that we build meaningful
revenue growing each quarter."
About H-Source Holdings Ltd.
H-Source Holdings Ltd. is a technology company operating within
the healthcare industry through its wholly owned subsidiary,
H-Source, Inc. The Company has developed a transaction platform
that provides a private, secure and trusted marketplace for member
hospitals to buy, sell and transfer excess inventory supplies and
capital equipment with each other. Member hospitals can conduct
secure transactions within Integrated Delivery Networks, complete
H-Source network or customize their own group hospitals using
H-Source's built-in filters. This marketplace network is
specifically designed to reduce health care costs and medical
product waste. For more information, please visit
http://h-source.com/.
On behalf of the board of directors of H-Source Holdings
Ltd.
"John
Kupice"
John Kupice
CEO & Director
CAUTIONARY DISCLAIMER STATEMENT:
Neither TSX Venture Exchange (TSXV) nor its Regulation Services
Provider (as that term is defined in policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this news
release.
This news release contains forward-looking statements
relating to the completion of the listing of the Company's shares
on the TSXV and other statements that are not historical facts.
Forward-looking statements are often identified by terms such as
"will", "may", "should", "anticipate", "expects" and similar
expressions. All statements other than statements of historical
fact, included in this release are forward-looking statements that
involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Company's expectations include the
failure to satisfy the conditions of the TSXV and other risks
detailed from time to time in the filings made by the Company with
securities regulations.
The reader is cautioned that assumptions used in the
preparation of any forward-looking information may prove to be
incorrect. Events or circumstances may cause actual results to
differ materially from those predicted, as a result of numerous
known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of the Company. The reader is
cautioned not to place undue reliance on any forward-looking
information. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are made
as of the date of this news release and the Company will update or
revise publicly any of the included forward-looking statements as
expressly required by applicable law.
SOURCE H-Source Holdings Ltd.