VitalHub Signs Multi-Year Licensing Agreement to Provide an Electronic Medical Record Solution for Provincial Adult Correctional Facilities across Ontario
TORONTO, June 06, 2022 (GLOBE NEWSWIRE) -- VitalHub Corp. (the “Company”) (TSX: VHI) is pleased to announce that TREAT has been licensed for an initial six-year contract term and an option to extend for four additional years, to better track the essential medical information needed to effectively treat inmates in provincially-run adult correctional institutions across Ontario.
For VitalHub, this agreement is an important and meaningful event. The six-year contract value is comprised of recurring license revenue and professional services delivered over a six-year period, totaling approximately $9 million (CAD) in the initial term.
The Ministry of the Solicitor General holds approximately 8,000 inmates a day across its 25 adult correctional institutions. Health care services at all correctional institutions maintain detailed health records for all detainees from the time of admission to release.
VitalHub’s TREAT Electronic Health Record was selected following an extensive and thorough evaluation process that began in December 2019 with the issuance of a Request for Information and concluded with the Request for Bid process closing in late 2021. Once deployed provincially, TREAT will provide care givers with accurate, up-to-date, standardized, and secure health information records.
“The TREAT solution continues to gain momentum as the leading EHR for health and human services providers in Canada. This agreement represents the second provincewide partnership that our team has earned the right to support in Canada and represents another very significant milestone for VitalHub. We expect that with the scope, scale and expertise developed, this project will in time present many more opportunities across Canada and internationally,” said Niels Tofting, EVP, Business Development & Marketing.
ABOUT MINISTRY OF THE SOLICITOR GENERAL
Ministry of the Solicitor General | Ontario.ca
ABOUT VITALHUB:
Software for Health and Human Services providers designed to simplify the user experience and optimize outcomes. VitalHub develops mission-critical technology solutions for Health and Human Services providers in the Mental Health (Child, Youth & Adult), Long-Term Care, Home Health, Community & Social Services and Acute Care sectors.
VitalHub develops technologies in two primary categories: Patient Flow, Operational Visibility & Patient Journey Optimization solutions; and Electronic Health Record, Case Management, Care Coordination & Optimization solutions. The Company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing a strategic M&A plan. Currently VitalHub serves more than 600 clients across Canada, USA, UK, Australia, New Zealand, the Middle East, and Europe.
VitalHub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The VitalHub team comprises more than 200 team members globally. The Company is publicly traded on the Toronto Stock Exchange (TSX) under the symbol "VHI".
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