VitalHub Announces Addition of Award-Winning Synopsis iQ to Recently Expanded Multi-Year Licensing Deal with King’s College Hospital NHS Foundation Trust
TORONTO, Dec. 09, 2020 (GLOBE NEWSWIRE) — VitalHub Corp. (the “Company” or “VitalHub”) (TSXV: VHI) is pleased to announce the additional sale of recently acquired subsidiary Intouch with Health’s (“Intouch”) award-winning Synopsis iQ solution to the expanded digital health platform installation at King’s College Hospital NHS Foundation Trust (the “Trust” or “King’s College”).
Per the transaction previously announced October 19, 2020, VitalHub entered into a multi-year licensing transaction with King’s College, comprising an expansion of the Trust’s existing Intouch installation. The expansion, which comprised a material licensing transaction including Intouch’s latest healthcare modules to enable a transition to virtual clinical care, has been further expanded to now includes the addition of award-winning Synopsis iQ product, the marquee pre-op assessment platform that completely digitizes the perioperative assessment journey, offering value, clarity and efficiency for the care team and patients.The Trust chose Intouch as its digital outpatient partner to assist during the COVID-19 crisis and beyond. As a world-renowned leader in healthcare, the Trust treats one million patients annually, has over 12,000 staff, and is one of the largest and most active teaching Trusts in London. It includes four main hospital sites, a large number of smaller sites, over 40 global sites, and will become a flagship site for Intouch moving forward.Synopsis iQ is the complete digital pre-op assessment platform, from initial questionnaire through to post-operative outcomes. Providing clarity, efficiency and value. Reducing cancellation rates and risk. Increasing patient throughput and theatre utilisation. This purchase fits into a 12-point strategy for improvement set out by the Trust through which they have established their System Health Improvement Plan, taking inspiration from the NHS Long Term Plan. This strategy aims to help bring about health population improvement. In supporting this initiative, the Trust sought to identify best in class technology providers who could achieve these ends, and elected to work with Intouch with Health as their digital solutions provider.CEO of the Trust’s Princess Royal University Hospital and South sites Jonathan Lofthouse revealed the Trust is working on the transformation project, “seeking to re-imagine how care can be provided moving forward. Our System Health Improvement Plan contains many aspirations from the NHS Long Term Plan to help bring about health population improvement, and we have already started introducing best-of-breed technology to allow us to achieve our objectives,” he said.He continued, “We want the ability to share comprehensive pre-operative information with another provider that allows them to care for that patient in a blended and seamless manner. By the term ‘blended’, I mean the management on the same integrated platform of those patients who present remotely for consultation alongside those who physically present at one of our hospital sites. This is the future of managed healthcare.”As previously mentioned, the King’s deal has been the largest transaction to-date in Intouch’s 21-year history. It is very gratifying to see the continued demand for our products from our clients,” said Dan Matlow, CEO of VitalHub Corp. “The addition of the Synopsis platform evidences the continued market pull for our solutions, resulting in this significant deal becoming even larger, demonstrating the successful reception of our implementation across all stakeholders. This expansion deal is a prime example of value driving our organic recurring revenue growth. We anticipate seeing a continuation in demand for these solutions as the market continues to mature in the post-pandemic era.”ABOUT KING’S COLLEGE HOSPITAL NHS FOUNDATION TRUSTKing’s College Hospital NHS Foundation Trust is one of the largest and most active teaching Trusts in London. Overall, it encompasses almost 1,683 inpatient beds beds, over 12,000 staff, and treats one million patients annually.The Trust is one of four major trauma centres, covering south east London and Kent. King’s College Hospital is also a heart attack centre and the regional hyper acute stroke centre. The Hospital offers a range of services, including: a 24-hour emergency department, medicine, surgery, paediatrics, maternity and outpatient clinics. Specialist services are available to patients, which provide nationally and internationally recognised work in liver disease and transplantation, neurosciences, haemato-oncology and fetal medicine.The Trust works closely with King’s College London, Guy’s and St Thomas’ and South London and Maudsley Foundation Trusts, and in 2006, became part of King’s Health Partners Academic Health Sciences Centre, a pioneering collaboration between the Trust, King’s College London, and Guy’s and St Thomas’, and South London and Maudsley NHS Foundation Trusts.ABOUT VITALHUBSoftware 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 STATEMENTThis 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 INFORMATIONDan Matlow
Chief Executive Officer, Director