Excellent Progress with Syncordia Cloud
in the commercial environment wins back old customer
TORONTO, April 14, 2016 /CNW/ - Syncordia
Technologies and Healthcare Solutions, Corp. (TSXV: SYN)
("Syncordia" or the "Company") today announced that its subsidiary
Billing Solutions LLC ("Billing Solutions"), a full service third
party rehab center billing solutions company, dedicated solely to
the mental and behavioral health industry has signed a new contract
with The Bridges Network, LLC/ Cornerstone Recovery Center,
LLC.
The contract, which will be effective June 1st, carries an initial two year
term, with automatic annual renewals thereafter. Beginning in
the second fiscal quarter, once the ramp-up is complete, annual
revenue from The Bridges Network and Cornerstone is expected to be
approximately $435,000 with strong
upside potential.
"We are pleased to welcome The Bridges Network and Cornerstone
Recovery Center back to Billing Solutions. The Bridges
Network is a previous client of Billing Solutions, and their return
is a testament to the relationship we formed and cultivated over
several years" says Matt Luchini
(COO) and Jimmy Rizzo (CEO) of
Billing Solutions.
Mr. Franks CEO of Syncordia added "We are very pleased to be
introducing state of the art software, the Syncordia Cloud, into
the Billing Solutions ecosystem for the benefit of its customers.
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 yet another good example of the core focus of our organic
initiatives and the power of our model."
About Bridges Network
The Bridges Network and
Cornerstone Recovery Center, of Prescott
Arizona, are licensed drug and alcohol treatment centers
with programs that are designed to provide the best possible
substance abuse treatment in a community for individuals suffering
from drug addiction and alcoholism. They are accredited by
the Joint Commission, showing a high level of excellence and
sophistication in their field. With a capacity for
approximately 100 clients, they are one of the largest substance
abuse treatment centers in Arizona.
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.