VitalHub Announces Further Licensing of DOCiT Mobile Application in Expanded Multi-Year Contract with Caressant Care Nursing and Retirement Homes Limited
TORONTO, Jan. 11, 2021 (GLOBE NEWSWIRE) — VitalHub Corp. (the “Company” or “VitalHub”) (TSXV: VHI) is pleased to announce the additional sale of the Company’s DOCit mobile application to Caressant Care Nursing and Retirement Homes Limited (“Caressant”) in a multi-year expansion of VitalHub’s existing contract.
Per the transaction previously announced in January, 2020, VitalHub entered into a two-year licensing transaction with Caressant for the use of the Company’s DOCit mobile application at two of their Long-Term Care homes. Following the success of that initial deployment, Caressant has extended VitalHub’s contract to cover the remainder of their homes, encompassing 15 sites and over 2,000 residents. Additionally, the term of the agreement has been extended from two to five years.The DOCit mobile app will allow Caressant Care’s front line care givers to become truly mobile, providing fingertip access to what used to be manual paper forms, schedules, task lists, etc., integrating smartphone and tablet technology into clinical workflow and providing mobile access through the integration of smartphones and tablets into clinical workflow. DOCit will provide the ability to organize tasks and record critical resident activity when it happens in real time. DOCit has demonstrated positive effect on improving care quality, saving time and cost, ensuring data accuracy, and increasing staff satisfaction.Caressant Care was VitalHub’s first multi-site deployment of the DOCit app, and they will continue to leverage the application’s multi-site reporting capability, allowing for regional trending, multi-site data analytics and benchmarking.“We are excited to leverage the DOCit solution to help standardize practice and process across our 15 sites” said Debbie Boakes, Vice President of Operations, “We see tremendous value in deploying a mobile solution that can streamline workflow for our staff, while providing immediate and reliable access to important resident data at the point of care.”“This contract comes as part of a pattern of clients requesting expansion of services, demonstrating the considerable demand for our solutions and satisfaction for our products and services,” said Dan Matlow, CEO of VitalHub Corp. “We are seeing continued integration across our suite of solutions, especially with existing clients. The client satisfaction this represents, and the corresponding expansion in contracts, is a major factor contributing to the Company’s organic recurring revenue growth.”ABOUT CARESSANT CARE NURSING AND RETIREMENT HOMES LIMITEDCaressant Care was founded in 1975 with a 60-bed Nursing Home in Woodstock, Ontario. They now own and operate 15 Nursing Homes and 10 Retirement Homes (which are all adjoined to a Nursing Home) that cater to over 2000 residents.Caressant Care Nursing and Retirement Homes are located primarily in small towns in Ontario. Many residents are friends, neighbours and even family members of their staff. This small-town atmosphere is evident by the care, respect and helpfulness shown by all Caressant Care staff.Caressant strives to create a home-like environment for the residents, allowing individualization of each resident’s area and a person-centered focus that aligns care, services and programs more closely with the vales of the organization.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