VitalHub Announces Intouch with Health Market Penetration Update
TORONTO, March 28, 2022 (GLOBE NEWSWIRE) -- VitalHub Corp. (the “Company” or “VitalHub”) (TSX: VHI) is pleased to announce significant growth in market penetration of UK-based subsidiary Intouch with Health (“Intouch”).
Intouch with Health has made significant headway increasing their market penetration across the United Kingdom’s National Health Service (NHS). As a result of the sales closed in Q1 2022 and strong growth over the 2021 period, Intouch has achieved substantial market penetration across the NHS. Based on the 2020/2021 NHS tables, there are a total of 140 Acute Trusts in England, and Intouch has at least one module sold into 73 Acute Trusts in England, or across approximately ~52% of total sites. This compares with approximately ~42% install rate across NHS Acute Trusts in the prior year.
NHS outpatient appointments totaled approximately 97,712,855 during the period, with approximately 55,170,725 or ~56.5% of total outpatient appointments being processed through the Intouch Platform. NHS outpatient attendances totaled approximately 74,808,465 during the period, with approximately 41,851,500 or ~55.9% of total outpatient attendances being processed through the Intouch Platform. This compares with 41% of all NHS outpatient attendances during the prior period.
“We are delighted to report strong growth in our penetration of the UK healthcare market,” said Dan Matlow, CEO of VitalHub Corp. “We now have active deployments across more than 50% of Acute Trusts in the NHS, demonstrating the traction and execution of our growth strategy. Importantly, there is still significant opportunity for upsell, as we continue to sell in additional modules and offerings amongst our existing install base. We plan to continue to expand our footprint, both through the generation of net new sales, and continued expansion agreements with our existing customers.”
ABOUT VITALHUB
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”.
CAUTIONARY STATEMENT
Sales and penetration data reflect estimates of the Company. 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.