VitalHub Announces Multi-Year Licensing of the MCAP Patient Flow Solution to Harrogate and District NHS Foundation Trust, UK
October 06 2021 - 7:30AM
VitalHub Corp. (the “Company” or “VitalHub”) (TSX:
VHI) announced today that Harrogate and District NHS
Foundation Trust (the “Trust” or “Harrogate and District”) has
licensed VitalHub’s Making Care Appropriate for Patients (MCAP)
solution to be implemented within the Trust’s 300-bed District
General Hospital. This is a 2-year product license with an option
to extend for 2 additional years.
The Trust has secured the Making Care Appropriate for Patients
(MCAP) product to be utilized within the 300 bed Harrogate and
District General Hospital. Harrogate and District plan to use
MCAP’s intuitive patient flow solution to identify an increased
number of patients that can be safely moved to lower levels of care
in order to improve overall patient flow. The Trust aims to
prioritize resources in order to address the national backlog
resulting from patient flow challenges during
the COVID-19 pandemic and reduce pressure in their
elective care pathways.
MCAP will be used to identify opportunities for whole system
patient flow improvements and integration, providing decision
makers with the necessary evidence to enable advanced patient flow
analytics in real-time to support improvements in
multi-disciplinary team discharge and system integration.
“We proudly have several MCAP implementations across the UK,
Qatar and Australia, and are encouraged by the ongoing success of
this product,” said Dan Matlow, CEO of VitalHub Corp. “The growth
upon our existing contract with Harrogate and District NHS
Foundation Trust demonstrates the trust our customers impart to us
to deliver leading solutions to power their operations. This is a
good example of the Company’s strong organic growth, through
consistent delivery of value across our existing install base.”
This is the second licensing transaction between VitalHub and
Harrogate and District NHS Foundation Trust this year. In March
2021, VitalHub announced the Trust’s licensing of VitalHub’s
subsidiary Intouch with Health’s digital health platform.
Issuance of Stock Options
In addition to the product license contract with the Trust,
VitalHub also announced today the grant of incentive stock options
as compensation to certain of its employees and consultants.
Options to purchase up to 50,000 Common Shares ("Shares") of the
Company have been granted at an exercise price of $2.85 per share,
as per the terms of the Option Plan.
ABOUT HARROGATE AND DISTRICT NHS FOUNDATION
TRUST: Harrogate and District NHS Foundation Trust cares
for the population in Harrogate and the local area as well as
across North Yorkshire and Leeds. We also provide children’s
services in the main body of the North East in County Durham,
Darlington, Middlesbrough, Stockton-on-Tees, Gateshead and
Sunderland. Harrogate and District NHS Foundation Trust employs
more than 4,000 people, caring for a wide range of people providing
essential hospital treatments as well as community health
services.
ABOUT VITALHUB: Software for Health and Human
Services providers designed to simplify the user experience and
optimize outcomes.
VitalHub provides technology to Health and Human Services
providers including; Hospitals, Regional Health Authorities, Mental
Health, Long Term Care, Home Health, Community and Social Services.
VitalHub solutions span the categories of Electronic Health Record
(EHR), Case Management, Care Coordination, Patient Flow &
Operational Visibility, and DOCit Mobile Apps.
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 400
clients across Canada, USA, UK, Australia, Qatar, and Latvia.
VitalHub is based in Toronto, Canada, with an offshore
development hub in Sri Lanka. The Company is publicly traded on the
TSX 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", "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, 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
Vitalhub (TSX:VHI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Vitalhub (TSX:VHI)
Historical Stock Chart
From Jul 2023 to Jul 2024