Toronto, Ontario--(Newsfile Corp. - October 13, 2017) - VitalHub (TSXV: VHI), a leading software development company in mobile health applications, today announced the availability of its newly created Forms & Task Management system that was developed through the MaRS Procurement by Co-Design Program. VitalHub and Trinity Village Care Centre in Kitchener, Ontario, worked together to co-design the mobile solution called VH Tasks. The system addresses complex issues facing care providers and residents in long-term care facilities.
After a rigorous application process which included more than 20 applicant teams, VitalHub was awarded 2 of the 4 approved applications and received 4 grants from the MaRS program. VitalHub's Forms & Task Management system was co-designed with Trinity Village Care Centre to change how Personal Support Workers (PSWs), Registered Practical Nurses (RPNs), and other frontline staff think of forms and data collection by consolidating many individual recorded activities and making each recorded activity an individual task, all made possible on individually-held smartphones.
VitalHub's Forms & Task Management rollout at Trinity Village is showing incredible results - time savings of 23 minutes per PSW per 8-hour shift; time savings of 1.5 hours per RPN per 8-hour shift; 30% improvement in data quality; improved work/life balance for frontline staff. "After a very successful pilot, we've purchased and implemented VH Tasks at Trinity Village Care Centre. It's a revolutionary solution that has improved staff's work/life balance while enhancing the quality of care we provide. I expect that other long term care facilities in Ontario will see the immediate value VH Tasks represents," said Debby Riepert, Chief Operating Officer, Trinity Village .
There are currently 200,000 long-term care beds in Canada, with over a third of those beds in Ontario. VitalHub's conservative market analysis shows promising annual revenue for this unique solution in Canada and abroad. "We are very excited with the opportunity the Forms & Task Management solution represents. We expect to see orders as we present this solution throughout Canada in partnership with Trinity Village," said Dan Matlow, Chief Executive Officer and President, VitalHub.
VitalHub and Trinity Village will continue to work together to implement the project and present the solution to other long-term care homes.
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VitalHub delivers an innovative platform for the creation of mobile health applications that increases productivity within healthcare settings. The VitalHub platform provides the ability to integrate existing individual healthcare applications while maintaining the control, security and privacy essential in healthcare. VitalHub's applications are focused on the fast-growing mental health and long-term care markets and the company plans to strategically acquire and grow business in these areas. Currently over 50 healthcare institutions across Canada use products from VitalHub and its subsidiaries.
VitalHub is based in Toronto, ON, and publicly traded on the TSX Venture Exchange: VHI
Dan Matlow, VitalHub
CEO & President
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. This news release contains forward-looking statements relating to the timing and completion of the transactions, the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Acquisition, the projected cash flows of the Company post-Acquisition, and the future plans and - 3 - objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to effectively integrate B Sharp Technologies into the Company and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that transactions described herein, will be completed on the terms and within the time disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.