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VitalHub Announces Two New Deals for VH LTC Solution
TORONTO, June 19, 2018 (GLOBE NEWSWIRE) -- VitalHub Corp. (the “Company” or “VitalHub”) (TSX-V:VHI) is pleased to announce two new sales of its VH LTC solution.
The VH LTC solution is designed specifically for Long-Term Care and retirement living, streamlining the way frontline staff access information about their Long-Term Care residents.
The solution enables front line clinicians to become mobile, providing fingertip access to what used to be manual paper forms, schedules, task lists, etc. VH LTC integrates smartphone and tablet technology into clinical workflow, creating the ability to document and record critical resident information at the point of care, and enabling the automated transition of care and workflow management, observation tracking, interdisciplinary communication and team collaboration.
VH LTC was created in conjunction with the MaRS Solution Lab and the Ministry of Govt. and Consumer Services, as part of an experimental program launched in 2016 in Ontario called “Procurement by Co-Design.” The program enables the public sector to partner with innovative technology and service vendors to collaboratively create cutting edge, impactful solutions to pressing and complex healthcare challenges.
VitalHub and Trinity Village were one of four procurement grant winners selected from among 17 competing teams in the 2017 cohort; and were selected to design a mobile app for Long-Term Care frontline staff. The result was the creation of the VH LTC solution, which has been running at Trinity Village, a not-for-profit organization with 150 Long-Term Care beds.
As a result of the positive reception and impact of VH LTC as demonstrated through its pilot at Trinity Village, VitalHub has completed two new licensing deals of the product. The first sale was completed with Saint Luke’s Place, a charitable, Non-Profit seniors’ residential facility located in Cambridge, Ontario, operating 114 Long-Term Care beds, 4 of which are designated as Veterans Priority Access beds.
The second sale was completed with Golden Dawn Senior Citizens’ Home, a private Canadian registered charity dedicated to the care of the elderly. Golden Dawn operates a Long-Term Care Facility and Senior Citizen Apartment complex located in Lion's Head, Ontario, and has 45 Long-Term Care beds.
“It is gratifying to see the vision that started as an innovative idea become reality,” said Debby Riepert, Chief Operating Officer, Trinity Village. “Initially, VH LTC was validated through the gains and improvements in efficiency our organization experiences. Now, the purchase of VH LTC by other homes across Ontario further reinforces the value of this product, and its ability to significantly improve the delivery of care and improve staff well-being.”
“We had a vision through the MaRS innovation project and we are executing on our plan to build upon the successes of this product,” said Dan Matlow, CEO of VitalHub. “We are encouraged by the growth of our pipeline to continue VH LTC’s expansion, and expect this product to produce deals on a quarterly basis.”
VitalHub develops and supports mission-critical healthcare information systems in the Mental Health (Child, Youth and Adult), Long Term Care, Community Health Service, Home Health and Hospital sectors. VitalHub technologies include Blockchain, Mobile, and Web-Based Assessment and EHR solutions.
VitalHub's aim is to create high-value, secured solutions enabling interoperability among existing health data systems. VitalHub is primarily focused on working with organizations in the Mental Health, Acute 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".
The 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.
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