VitalHub Announces Large-Scale Expansion Licensing Deal and Upgrade to Virtual Care Module with King’s College Hospital NHS Foundation Trust
TORONTO, Oct. 19, 2020 (GLOBE NEWSWIRE) — VitalHub Corp. (the “Company” or “VitalHub”) (TSXV: VHI) is pleased to announce a material licensing transaction comprising an expansion of newly-acquired subsidiary Intouch With Health’s (“Intouch”) digital health platform installation at King’s College Hospital NHS Foundation Trust (the “Trust” or “King’s College”). Notably, the expansion includes the licensing of Intouch’s latest healthcare modules, enabling a transition to virtual clinical care.
The Trust has chosen Intouch as its digital outpatient partner to assist during the COVID-19 crisis and beyond. 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.The expansion marks a material contract for Intouch, its single largest to-date, encompassing an expansion of its existing implementation with the Trust. The purchase comprises various hardware components, the complete Intouch patient flow suite of products, and Intouch’s newly-introduced healthcare modules, Virtual Clinic Manager and iReceptionist, which enable the complete transition to virtual care.The purchase comes in response to the Trust’s need to work with a trusted partner in seeking to re-imagine care delivery as an integrated care system, both across South East London and at a Borough level, delivering rich, dynamic, high-quality outpatient services in a socially distanced format. King’s College chose Intouch with Health as their solutions provider and partner, having successfully benefitted from the previous installation, resulting in this significant expansion of services. The solution will assist the Trust during the COVID-19 crisis and, importantly, builds the foundations for King’s College as a leading care provider in the post-pandemic age.“This is the future of managed healthcare,” said Jonathon Lofthouse, site chief executive at one of the Trust’s hospitals, Princess Royal University Hospital. “[The Trust is] seeking to re-imagine how care can be provided moving forward, building on the vibrancy and talent we have within our individual organisations and as an integrated care system across South East London and at Borough level. In essence, over time, we want to create a technological eco-system that allows us to provide the best possible care not only at King’s, but across the entirety of the South East of London.”“This is the largest transaction Intouch has completed in its 21-year history,” said Dan Matlow, CEO of VitalHub Corp. “We are particularly excited to see a global premiere client doubling down on their utilization of our services, reinforcing the value and benefits they have derived from our solutions. With this transaction, we see continued opportunity for organic growth among the considerable network of Trusts and beyond.”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. The Trust is taking a phased approach to the introduction of Intouch with Health’s digital solutions through which full integration is the end outcome, enabling high quality video consultations across their suite of facilities.The transition to a virtual clinic format will facilitate a reduction in their requirement of patients to attend hospitals for consultations, improving capacity and load balancing, patient convenience, and the overall care delivery process. These improvements will also extend to long term care patients who will be proactively managed in their homes, affording improved levels of communication while reducing pressures on clinicians and Trust resources.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, 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