VitalHub Announces Commencement of Second Phase of Licensing Agreement with The Salvation Army Toronto Grace Health Centre
September 13 2019 - 7:30AM
VitalHub Corp. (the “Company”) (TSXV: VHI) is pleased to announce
that upon successful completion of the first phase of the project,
it has entered phase two of the B Care EHR implementation for the
Salvation Army Toronto Grace Health Centre (“TGHC”).
Initially announced in early January 2019, the project is being
deployed in three stages, with TGHC having initially committed to
phase one, with the intent of deploying subsequent phases over
18-24 months. VitalHub has successfully delivered phase one of the
project, with TGHC going live with the implementation of the ADT
(Admission, Discharge and Transfer), EMPI (Enterprise Master
Patient Index) and various interfaces to third party systems.
Phases two and three will focus on the implementation of
Clinical Documentation, Electronic Assessments, the deployment of
the Pharmacy Information System, Order Entry and eMAR (Electronic
Medication Administration Record).
Phase two of the project include software licensing revenue of
$406k, maintenance/support revenue of $100k, and professional
services revenue of approximately $176k. Phase two deliverables
will include Clinical Documentation, Daily Sheets Module,
Scheduling Module, Full Pharmacy Management System, including
Medication Orders, InterRAI Assessment (RAI-MDS). The
implementation of phase two will result in the decommissioning of
the WORx Pharmacy System and Goldcare Clinical Documentation
solution currently in use.
The revenue associated with the three phases of the project is
anticipated to exceed $1M, with approximately 60% allocated toward
software licensing.
TGHC plays a vital role providing patient-centered care for
individuals with multifaceted chronic diseases who require Complex
Continuing Care, Post-Acute Care Rehabilitation and Palliative
Care. “The VitalHub team is supporting our goal of providing a
fully integrated EMR solution that will support our provisioning of
excellent healthcare for our patients. The VitalHub team has moved
very quickly to support our transformation,” said Ralph Anstey,
CFO, TGHC.
“We are pleased with the success of the first phase of this
project and look forward to continuing our work with Toronto Grace.
The progression of this project is a further point of validation
among the large community of VitalHub customers who deploy B Care
to meet their EHR requirements,” said Dan Matlow, CEO of VitalHub
Corp. “We see significant opportunity to continue to deploy
specialized EHR solutions that are cost-effective and scalable
across a wide range of providers.”
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, 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 TORONTO GRACE HEALTH CENTREToronto Grace Health Centre
(TGHC) is a 119-bed facility owned and operated by The Salvation
Army located in the heart of downtown Toronto. Toronto Grace is
renowned for the compassion, clinical excellence and
patient-centered care. The heart of patient-centred care is
recognizing that each person has individualized priorities and
goals, and each care plan reflects this. Through understanding and
appreciating the complexity of day-to-day life, Toronto Grace
provides patient-centered care for individuals with multifaceted
chronic diseases who require Complex Continuing
Care, Post-Acute Care Rehabilitation and Palliative
Care.
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
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