Another organic win from a customer that sees
the immense value of the Syncordia transaction services and Cloud
based service offering
TORONTO, April 14, 2016 /CNW/ - Syncordia Technologies
and Healthcare Solutions, Corp. (TSXV: SYN) ("Syncordia" or the
"Company") today announced that its wholly owned subsidiary Health
Services Integration Inc. ("HSI"), a leader in Emergency Medical
Services ("EMS") revenue cycle management ("RCM"), has entered into
a three year contract, with one year auto renewals, with Mercy
Health North LLC and LACP/St Rita's Medical Center, of Toledo, Ohio ("Mercy") both of whom are
the affiliated EMS units of Mercy St Vincent Medical Center.
The contract is for RCM services focused on Mercy's rotary wing
EMS, mobile intensive care unit ("MICU") specialty care ground
transport, basic and advanced life support, 911 and wheelchair
transport. These RCM activities were previously conducted in-house.
Syncordia anticipates beginning RCM services for Mercy in
June 2016, following client
implementation activities. Once fully ramped up, the contract is
anticipated to contribute a minimum of $900,000 of annual revenue to Syncordia and
produce compelling benefits for Mercy, including enhanced analytics
to improve decision making.
"This is yet another example of customers seeing the value of
the Syncordia Cloud service offering to improve their RCM
performance and profitability, compared to doing the RCM activities
in-house. We are pleased to earn the respect and confidence of our
new customer and contribute in a meaningful way to their future
success. Consistent with our three-pronged growth strategy, we are
focused on: 1) driving organic growth; 2) commercializing our SaaS
solutions; and 3) completing accretive acquisitions. This contract
is a good example of the core focus of our organic initiatives,"
said Michael Franks, CEO of
Syncordia.
About Mercy St. Vincent Medical Center
Mercy St.
Vincent Medical Center, established in 1855, is the critical care
regional referral and teaching center within the Mercy system, a
seven hospital faith-based system serving Northwest Ohio and Southeast Michigan. St. Vincent is home to
five Life Flight air ambulances, holds the highest designation for
treating high risk mothers & babies and is a Level I
Trauma Center for children & adults. We are also the
region's only Burn Care and Reconstructive Center. St. Vincent
maintains a completely modern, attractive and secure campus and
also takes a leadership role in providing quality medical education
and community development.
About St. Rita's Medical Center
Since 1918, St. Rita's
Medical Center has been providing quality healthcare to the people
of West Central Ohio. Founded by the Sisters of Mercy, St. Rita's
is now part of Mercy Health formerly Catholic Healthcare Partners
(CHP). Our comprehensive high-quality medical services
include The Henry & Beverly Hawk Vascular & Heart Center at
St. Rita's, St. Rita's Orthopedic Care Center, trauma and
emergency, cancer treatment, women's health, mother/baby,
pediatrics, sports medicine and rehabilitation, addiction and
behavioral services. In August
2008 Lima Allen County Paramedics was purchased by St.
Rita's Medical Center and joined the Mercy Health System now
operating as LACP/St. Rita's Medical Center, LLC. LACP
operates 10 ambulances and 4 wheelchair vans providing
emergency and non-emergency transportation services to the
region.
About Syncordia Technologies and Healthcare Solutions,
Corp.
We are a technology enhanced revenue cycle management
("RCM") company focused on underserved niche segments of the
healthcare industry. We are focused on using our proprietary
software suite as an accelerator for growth. We are building a
diversified software and services business by consolidating
healthcare billing providers. Our growth strategy is to acquire RCM
businesses with and without software and, improve their
profitability by increasing revenues and operating efficiencies
using our software, and in time, commercializing the Syncordia
Cloud, our cloud-based software offering, to provide customer
demanded turn-key solutions from a single provider and to address
compelling RCM market opportunities.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward Looking Statements
Certain statements herein may be "forward looking" statements
that involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or
achievements of Syncordia or the industry to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Forward
looking statements involve significant risks and uncertainties,
should not be read as guarantees of future performance or results,
and will not necessarily be accurate indications of whether or not
such results will be achieved. A number of factors could cause
actual results to vary significantly from the results discussed in
the forward looking statements. These forward looking statements
reflect current assumptions and expectations regarding future
events and operating performance and are made as of the date hereof
and we assume no obligation, except as required by law, to update
any forward looking statements to reflect new events or
circumstances.
SOURCE Syncordia Technologies and Healthcare Solutions,
Corp.