VitalHub Subsidiary Transforming Systems Secured 5-Year Contract with NHS Herefordshire and Worcestershire CCG
TORONTO, Dec. 07, 2020 (GLOBE NEWSWIRE) — VitalHub Corp. (the “Company” or “VitalHub”) (TSXV: VHI) is pleased to announce that recently acquired subsidiary, Transforming Systems, has secured a 5-year recurring contract with NHS Herefordshire and Worcestershire CCG to deploy the Company’s SHREWD Resilience and Action products with partners across the region.
Prior to this 5-year, recurring revenue contract, the SHREWD platform collectively serviced 28% of the entire population of the UK. This deployment encompasses a meaningful continued expansion of SHREWD’s presence and reach within the UK health economy and will consist of a two-phased approach. The first phase is already seeing successful engagement with all system partners in Worcestershire, including the Acute Trust, Community, Ambulance and Social Care. The second phase will encompass engagements with similar partners in Herefordshire.Located in the Midlands region of the United Kingdom, NHS Herefordshire and Worcestershire CCG is responsible for the care of a population of 800,000 individuals. The health economy has two acute hospital trusts, with three sites in Worcestershire and one in Herefordshire and represents an area with a considerably busy urgent care footprint.By way of background, Clinical Commissioning Groups (CCGs) are responsible for overseeing the hospital and community NHS services within their local STP. The Herefordshire and Worcestershire STP comprises the following organizations:NHS Herefordshire and Worcestershire CCGWorcestershire Acute Hospitals NHS TrustWye Valley NHS TrustHerefordshire and Worcestershire Health and Care NHS TrustWest Midlands Ambulance Service NHS TrustHerefordshire County CouncilWorcestershire County Council
CCG commissioning involves deciding what services are needed for diverse local populations and ensuring that they are provided. An essential challenge in successfully accomplishing this directive involved having a regional view toward understanding the demand, capacity, and performance of services and resources across the region, in order to facilitate appropriate allocation or resources, load balance, and optimized planning.SHREWD Resilience enables the whole health and social care system within a defined area to access real-time data. Resilience displays data in a way that is simple to understand and visually identifies areas of pressure quickly, enabling operational leaders and front-line teams alike to access a real-time view of the situation in a matter of seconds.SHREWD Action, in combination with Resilience, is a cloud-based add-on module for the SHREWD platform that allows users to easily create and manage real-time escalation and response plans for the urgent and emergency care pathway, across a whole health economy. Taken together, the SHREWD platform offers regional health systems a comprehensive solution through which they can easily and readily monitor activity across their system, in real-time.The partnership team at Transforming Systems have forged strong relationships with the Worcestershire partners, built on local knowledge and awareness of the challenges the area faces and the opportunities that will be delivered using the SHREWD platform.“We are delighted to have recently partnered with NHS Worcestershire & Herefordshire CCG as we understand the operational challenges they face with a considerably busy urgent care footprint caring for a population of 800,000,” said Lisa Riley, Vice President of Strategic Product and Partnership Development at Transforming Systems. “Our SHREWD Resilience and Action modules will offer the oversight and assurance required to more effectively manage their urgent and emergency care pathways, providing them with a single source of the truth and enabling them to reduce pressure, manage demand and capacity and improve patient flow across the whole health economy.”“Governments and regional health bodies are demonstrating their need to access real-time, systems-wide operational data to help them better understand how their health economies are performing,” said Dan Matlow, CEO of VitalHub Corp. “The pandemic has significantly accelerated the need for improved resource planning and operational visibility solutions, and we are seeing a correspondingly strong increase in our recurring revenue growth as a result. We are pleased that SHREWD has established a very strong footprint across the UK, and this further regional contract deal continues our expansion and growth across this market.”ABOUT TRANSFORMING SYSTEMS LTD.In 2015, Transforming Systems began commercializing their solutions to help the NHS solve a fundamental challenge surrounding lack of access to real-time information across its multitude of services. Developed over the course of a 6-year R&D process, Transforming Systems’ product portfolio, SHREWD, aims to solve the challenge of capturing and transforming high quality data on fluctuating scales, from varying sources.The product portfolio facilitates secure, real-time data collection, analysis and forecasting, at a price that is accessible to all health and social care commissioners. Once captured, the SHREWD Platform empowers NHS teams to determine actionable insights from a wide range of healthcare data, leading to improved organizational efficiencies and resource utilization, ultimately aiming to improve the delivery of patient care.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