Vitalhub Announces Multi-Year Licensing Agreement with Stafford and Stoke-on-Trent Integrated Care Systems
TORONTO, Jan. 13, 2022 (GLOBE NEWSWIRE) -- VitalHub Corp. (the “Company” or “VitalHub”) (TSXV: VHI) is pleased to announce a multi-year licensing agreement of wholly-owned subsidiary Transforming Systems’ proprietary SHREWD Resilience and COVID-19 modules with Staffordshire and Stoke-on-Trent Integrated Care Systems (the “ICS” or Staffordshire and Stoke-on-Trent”).
The ICS has agreed to a multi-year licensing agreement, which will span over three-years, and be one of Transforming Systems’ largest sales to date. The finalization of this agreement is a testament to the Company’s increasingly large footprint in the UK healthcare system.
Transforming Systems will be deploying the SHREWD Resilience and SHREWD COVID-19 modules across the ICS network. The ICS’s mandate is to elevate their healthcare delivery by closely managing their resources, performance, and delivery. By providing a real-time picture of the entire health system in one place and reducing the administrative burden of current manual processes across the health network, SHREWD systems will play an instrumental role in supporting their endeavours. SHREWD’s real-time decision-making tools will empower the ICS in their pursuit of improving the efficiency of care delivery by enabling operational visibility across the system.
“We are delighted to expand our offerings across the Stafford and Stoke-on-Trent region, serving more than 1.1 million patients,” said Dan Matlow, CEO of VitalHub Corp. “As one of our single largest licensing transactions to-date, this sale serves as a further demonstration of the market pull for our products and services, and the considerable need we continue to address across the NHS. Our SHREWD platform continues to address emergent needs across the healthcare system, specifically several of the challenges resulting from the pandemic. By providing healthcare organizations and operators with real-time visibility, across entire regions, we can help improve load capacity and balancing, ensuring overrun systems can continue to operate and serve patients in need.”
The ICS spans six clinical commission groups (“CCGs”) in the Stafford and Stoke-On-Trent area. In addition to other key urgent care providers, the CCGs that are part of the ICS include the University Hospitals of North Midlands, the North Staffordshire Combined Healthcare NHS Trust, the Midlands Partnership NHS Foundation Trust, and the West Midlands Ambulance Service University NHS Foundation Trust. The ICS network employs over ten thousand individuals, serving a patient population more than 1.1 million people.
ABOUT STAFFORD AND STOKE-ON-TRENT ICS
Stafford and Stoke-on-Trent ICS are a partnership of NHS and local government organisations, alongside independent and voluntary sector groups, that is working together to transform local health and care services. Through several programs, they are developing new models of care. Their initiatives are aimed at increasing the health and well-being of their community, tackling the regional inequalities in healthcare, and increasing the overall quality of care. To accomplish these goals, the ICS emphasizes the importance of embodying certain values, which include trust, courage, honesty, respect, kindness, and optimism.
Software for Health and Human Services providers designed to simplify the user experience & 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 275+ 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 Venture Exchange under the symbol “VHI”.
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.
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