Another organic win from a customer that sees the immense value of the Syncordia transaction services and Cloud based service offering
TORONTO, April 14, 2016 /CNW/ - Syncordia Technologies and Healthcare Solutions, Corp. (TSXV: SYN) ("Syncordia" or the "Company") today announced that its wholly owned subsidiary Health Services Integration Inc. ("HSI"), a leader in Emergency Medical Services ("EMS") revenue cycle management ("RCM"), has entered into a three year contract, with one year auto renewals, with Mercy Health North LLC and LACP/St Rita's Medical Center, of Toledo, Ohio ("Mercy") both of whom are the affiliated EMS units of Mercy St Vincent Medical Center.
The contract is for RCM services focused on Mercy's rotary wing EMS, mobile intensive care unit ("MICU") specialty care ground transport, basic and advanced life support, 911 and wheelchair transport. These RCM activities were previously conducted in-house. Syncordia anticipates beginning RCM services for Mercy in June 2016, following client implementation activities. Once fully ramped up, the contract is anticipated to contribute a minimum of $900,000 of annual revenue to Syncordia and produce compelling benefits for Mercy, including enhanced analytics to improve decision making.
"This is yet another example of customers seeing the value of the Syncordia Cloud service offering to improve their RCM performance and profitability, compared to doing the RCM activities in-house. We are pleased to earn the respect and confidence of our new customer and contribute in a meaningful way to their future success. Consistent with our three-pronged growth strategy, we are focused on: 1) driving organic growth; 2) commercializing our SaaS solutions; and 3) completing accretive acquisitions. This contract is a good example of the core focus of our organic initiatives," said Michael Franks, CEO of Syncordia.
About Mercy St. Vincent Medical Center
Mercy St. Vincent Medical Center, established in 1855, is the critical care regional referral and teaching center within the Mercy system, a seven hospital faith-based system serving Northwest Ohio and Southeast Michigan. St. Vincent is home to five Life Flight air ambulances, holds the highest designation for treating high risk mothers & babies and is a Level I Trauma Center for children & adults. We are also the region's only Burn Care and Reconstructive Center. St. Vincent maintains a completely modern, attractive and secure campus and also takes a leadership role in providing quality medical education and community development.
About St. Rita's Medical Center
Since 1918, St. Rita's Medical Center has been providing quality healthcare to the people of West Central Ohio. Founded by the Sisters of Mercy, St. Rita's is now part of Mercy Health formerly Catholic Healthcare Partners (CHP). Our comprehensive high-quality medical services include The Henry & Beverly Hawk Vascular & Heart Center at St. Rita's, St. Rita's Orthopedic Care Center, trauma and emergency, cancer treatment, women's health, mother/baby, pediatrics, sports medicine and rehabilitation, addiction and behavioral services. In August 2008 Lima Allen County Paramedics was purchased by St. Rita's Medical Center and joined the Mercy Health System now operating as LACP/St. Rita's Medical Center, LLC. LACP operates 10 ambulances and 4 wheelchair vans providing emergency and non-emergency transportation services to the region.
About Syncordia Technologies and Healthcare Solutions, Corp.
We are a technology enhanced revenue cycle management ("RCM") company focused on underserved niche segments of the healthcare industry. We are focused on using our proprietary software suite as an accelerator for growth. We are building a diversified software and services business by consolidating healthcare billing providers. Our growth strategy is to acquire RCM businesses with and without software and, improve their profitability by increasing revenues and operating efficiencies using our software, and in time, commercializing the Syncordia Cloud, our cloud-based software offering, to provide customer demanded turn-key solutions from a single provider and to address compelling RCM market opportunities.
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Forward Looking Statements
Certain statements herein may be "forward looking" statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Syncordia or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward looking statements. These forward looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and we assume no obligation, except as required by law, to update any forward looking statements to reflect new events or circumstances.
SOURCE Syncordia Technologies and Healthcare Solutions, Corp.
For further information: Michael Franks, Chief Executive Officer, (647) 949-2663, firstname.lastname@example.org