TORONTO, Sept. 17, 2014 /CNW/ - (TSX-V: QHR) QHR Corporation ("QHR" or the "Company") a leader in Healthcare Information Technology and Solutions, is pleased to announce that all resolutions presented at the Company's Annual General and Special Meeting, held in Toronto on September 16, 2014 were approved. These resolutions approved by Shareholders included the appointment of Al Hildebrandt, Mark Kohler, Dr. Ernest Wigmore, James Mutter, Gordon Glenn, Art Mesher and Thomas Liston as directors, the appointment of Grant Thornton LLP as auditors and the approval of the Company's stock option plan.
Mr. Mark Kohler, Executive Chairman of the Board commenced the meeting stating that "QHR will drive increasing value through a balanced commitment to innovation, strategic growth, and by delivering on promised results".
Mr. Al Hildebrandt, President and CEO of QHR recapped key events from 2013 including the rebranding of QHR, the divestiture of its enterprise management solutions (EMS) business further strengthening its balance sheet and cash position, and the impressive growth of its annual recurring revenue base which now stands at $21.5 million in a competitive North American market. He also highlighted that Accuro®EMR continues to be the leading and largest single EMR platform in Canada which is now in six provinces.
The Company outlined that its strategic direction for the future is focused on a Connected Platform that enables Healthcare physicians and providers to be the centre of connected patient care.
Five strategic themes were presented:
- Evolution from a Healthcare IT company to a Healthcare IT and Solutions company
- Continuing focus on strengthening its core and expanding its leading physician platform
- Deliver patient engagement solutions that connect healthcare providers and patients through technology
- Three-pronged approach to strategic growth: organic, partnerships & alliances, and M&A
- Continually foster a culture for clients and employees that is passionate, innovative and agile
The Company ended the annual meeting indicating that they are closely measuring their progress on an ongoing basis in four key areas: financial performance, strategic growth, markets & customers, and resources & assets.
The Company is excited about its business prospects and strategic direction to continue increasing its leadership position in healthcare.
About QHR Corporation
QHR is a leading healthcare IT and solutions company in the following markets:
In the EMR market, QHR's Accuro is a connected platform that provides electronic medical records, billing and scheduling for family physicians, medical specialists, and surgeons, that is a key component in the move throughout Canada to provide electronic healthcare records for all Canadians. QHR provides on-site and off-site (ASP) hosting capabilities for the EMR market.
QHR also provides best in class clearinghouse services through its SoftCare brand, supporting payers and assisting healthcare providers to exchange claim information accurately for health claim reimbursement. SoftCare provides a suite of healthcare interoperability solutions (EDI and Clearinghouse), medical billing and professional services. These services help clients navigate and simplify the complex transaction integration processes required for health plan enrollment, health insurance eligibility, and health insurance claims through to payment remittance with their trading partners. SoftCare is marketed primarily in the US.
Further information about QHR Corporation can be found at www.QHRtechnologies.com
Legal Notice Regarding Forward Looking Statements
This news release may contain "forward looking statements" within the meaning of applicable Canadian securities legislation. These statements are subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward looking statement. Risks that may prevent or delay the forward looking statements from coming to fruition include that we may not offer products that are acceptable to industry regulators or customers; competitors may offer better or cheaper products; we may not be able to raise sufficient capital to improve products to remain competitive; changing regulatory requirements may prevent our products from being sold as expected; we may not be able to attract or retain key personnel; our technology may become obsolete; orders could be cancelled or delayed and market factors may increase our costs more than expected. QHR is a technology business development enterprise where investment and product enhancements must be carefully managed to achieve long-term revenue growth and profitability. It is our policy not to update forward looking statements except to the extent required under applicable securities laws. Further information on the Company is available at www.sedar.com or at the Company's website, www.QHRtechnologies.com.
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 release.
SOURCE: QHR Corporation
For further information: Al Hildebrandt, President & CEO, 250-979-1701, al.hildebrandt@QHRtechnologies.com; Jerry Diener, VP Finance & CFO, 250-979-1722, jerry.diener@QHRtechnologies.com; Jim Wilson, VP Marketing & Communications, 416-220-7484, jim.wilson@QHRtechnologies.com