VitalHub Announces Multi-Year Licensing of the MCAP Patient Flow Solution to Harrogate and District NHS Foundation Trust, UK
TORONTO, Oct. 06, 2021 (GLOBE NEWSWIRE) -- VitalHub Corp. (the “Company” or “VitalHub”) (TSX: VHI) announced today that Harrogate and District NHS Foundation Trust (the “Trust” or “Harrogate and District”) has licensed VitalHub’s Making Care Appropriate for Patients (MCAP) solution to be implemented within the Trust’s 300-bed District General Hospital. This is a 2-year product license with an option to extend for 2 additional years.
The Trust has secured the Making Care Appropriate for Patients (MCAP) product to be utilized within the 300 bed Harrogate and District General Hospital. Harrogate and District plan to use MCAP’s intuitive patient flow solution to identify an increased number of patients that can be safely moved to lower levels of care in order to improve overall patient flow. The Trust aims to prioritize resources in order to address the national backlog resulting from patient flow challenges during the COVID-19 pandemic and reduce pressure in their elective care pathways.
MCAP will be used to identify opportunities for whole system patient flow improvements and integration, providing decision makers with the necessary evidence to enable advanced patient flow analytics in real-time to support improvements in multi-disciplinary team discharge and system integration.
“We proudly have several MCAP implementations across the UK, Qatar and Australia, and are encouraged by the ongoing success of this product,” said Dan Matlow, CEO of VitalHub Corp. “The growth upon our existing contract with Harrogate and District NHS Foundation Trust demonstrates the trust our customers impart to us to deliver leading solutions to power their operations. This is a good example of the Company’s strong organic growth, through consistent delivery of value across our existing install base.”
This is the second licensing transaction between VitalHub and Harrogate and District NHS Foundation Trust this year. In March 2021, VitalHub announced the Trust’s licensing of VitalHub’s subsidiary Intouch with Health’s digital health platform.
Issuance of Stock Options
In addition to the product license contract with the Trust, VitalHub also announced today the grant of incentive stock options as compensation to certain of its employees and consultants.
Options to purchase up to 50,000 Common Shares ("Shares") of the Company have been granted at an exercise price of $2.85 per share, as per the terms of the Option Plan.
ABOUT HARROGATE AND DISTRICT NHS FOUNDATION TRUST: Harrogate and District NHS Foundation Trust cares for the population in Harrogate and the local area as well as across North Yorkshire and Leeds. We also provide children’s services in the main body of the North East in County Durham, Darlington, Middlesbrough, Stockton-on-Tees, Gateshead and Sunderland. Harrogate and District NHS Foundation Trust employs more than 4,000 people, caring for a wide range of people providing essential hospital treatments as well as community health services.
ABOUT VITALHUB: Software for Health and Human Services providers designed to simplify the user experience and 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 400 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 under the symbol “VHI”.
CAUTIONARY STATEMENT: 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.
CONTACT INFORMATION:
Dan Matlow
Chief Executive Officer, Director
(416) 727-9061
dan.matlow@vitalhub.com