VitalHub Subsidiary B Sharp Technologies Signs Strategic Deal to Provide More Children Access to Critical Mental Health Suppo...
January 24 2018 - 8:00AM
B Sharp Technologies, a subsidiary of VitalHub Corp. (“VitalHub”)
(TSXV:VHI), has signed a strategic reseller agreement with TELUS
Health to distribute a white-labelled version of its mental health
software platform, B Care, across Canada. Under the reseller
agreement, TELUS Health will provide the technology to a leading
Canadian mental health agency.
The B Care platform features a suite of online modules designed
to support healthcare professionals who are providing mental
healthcare services, including in-patient and outpatient hospital
programs and community-based agencies. Currently, TELUS Health and
VitalHub have a licensing deal in place that will generate
approximately $1 million in revenue upon the successful
implementation of the B Care solution. This will help the company
to advance its strategy to offer more innovative technology
solutions to support the mental health community.
“We are excited for the opportunity this agreement will bring to
the many Canadians who are dealing with mental health issues,” says
Robert Lazar, CEO of B Sharp Technologies. “The B Care platform is
proven to be effective in mental health settings, as demonstrated
by the approximately 40 mental health organizations currently using
the solution, and its ongoing use in the Canadian mental health
marketplace. Working in conjunction with the TELUS Health team, we
are confident there will be other significant opportunities to
support children who are one of our most vulnerable
populations.”
Addressing children’s mental health has become of vital
importance and focus worldwide. In Canada, an estimated 1.2 million
children and youth aged 5 to 24 are currently affected by mental
illness according to The Mental Health Commission of Canada. The
Canadian Institute for Health Research reports that up to 20 per
cent of Canadian children and youth are at risk of developing a
mental disorder. Recently, the Ontario Ministry of Health and Long
Term Care increased funding targeted at Child and Youth mental
health and will establish hubs where young people can receive
walk-in, one-stop access to services.
Together, B Sharp Technologies and TELUS Health are supporting
the mental health community in an effort to improve the quality of
care Canadians receive, and supporting healthcare practitioners by
enabling them to learn and improve the level of care they provide
through the collection of quality data analytics.
For more information please visit: www.vitalhub.com,
www.bsharp.com.
About B SharpFounded in 1998 and based in
Toronto, B Sharp Technologies, a subsidiary of VitalHub Corp.,
develops and deploys client case management and electronic
documentation solutions for healthcare, social services, and
community care organizations. B Sharp Technologies also has
software development operations in Sri Lanka, providing access to
skilled and low cost developers. The products of B Sharp
Technologies are used by over 40 customers in 70 locations
across Canada. B Sharp Technologies had total unaudited revenues
from operations of over $1.8 million for the year-ended December
31, 2016.
About VitalHubVitalHub (the "Company") uses
web, mobile, and Blockchain technology to create disruptive
SaaS-based healthcare applications that solve industry-wide
problems. VitalHub's aim is to create high-value, secured solutions
that enable broad interoperability among existing health data
systems. Vitalhub is primarily focused on working with
organizations in the Mental Health and Long-Term Care space, to
further extend organization's applications across the continuum of
care, powered by the security, efficiency, and trust of Blockchain
technology.
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 development hub in Sri Lanka.The Company is publicly
traded on the TSX Venture Exchange under the symbol "VHI".
Cautionary StatementThe TSX Venture Exchange
has in no way passed upon the merits of the transactions and has
neither approved nor disapproved the contents of this press
release. Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
For media inquiries please contact:
Dan MatlowChief Executive Officer, and Director VitalHub
Corp(416) 727-9061dan.matlow@vitalhub.com
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