H-Source platform demonstrates positive financial impact across Colorado Hospital Association with cost savings
16 Jan, 2018, 08:30 ET
VANCOUVER, Jan. 16, 2018 /CNW/ - H-Source Holdings Ltd. (TSX VENTURE:HSI) (OTCQB:HSCHF) (the "Company" or "H-Source") is pleased to announce that its partnership with the Colorado Hospital Association ("CHA") has been benefiting its members with significant positive financial impacts. Over the past months, transactions between CHA members has steadily increased resulting in greater cost recovery and savings for Colorado hospitals. H-Source customer base and transactions have been increasing with a widening network across a variety of geographies and hospital groups. The Colorado Hospital Association represents over 100 hospitals and health systems throughout Colorado. Many early adopters include several Integrated Delivery Networks, larger facilities located in the Denver metro area and rural areas across the state.
Based on some initial numbers, the participating hospitals would have needed to generate approximately $8.4 million dollars in new revenue in order to realize the same dollar value in recovered cost from H-Source transactions.
Murray Walden, President and Director, said, "When I met with Michael Scott, Vice President, CHA Shared Services, he was very passionate about the forward thinking and progressive nature of Colorado hospitals in terms of exploring innovative ideas and process improvement. I would say he has been spot on. We are excited about the growing number of hospital participants and transactions on our platform. I believe we are just scratching the surface of our potential for Colorado hospitals to recover costs, reduce expenditures and decrease waste. We appreciate our partnership with the CHA and look forward to our continued relationship."
Michael Scott, Vice President, CHA Shared Services, said, "Our members deal with many challenges while controlling costs, reducing waste and implementing sustainability strategies. They look for resources to help modify their hospital's cost structures. H-Source is a resource providing members that opportunity to reduce and recover expenses. We are very pleased with the success of the program".
About H-Source Holdings Ltd.
H-Source Holdings Ltd. is a technology company operating within the healthcare industry through its wholly owned subsidiary, H-Source, Inc. The Company has developed a transaction platform that provides a private, secure and trusted marketplace for member hospitals to buy, sell and transfer devices, pharmaceuticals, capital equipment and supplies with each other. Member hospitals can conduct secure transactions within Integrated Delivery Networks, complete H-Source network or customize their own group hospitals using H-Source's built-in filters. This marketplace network is specifically designed to reduce health care costs and medical product waste. For more information, please visit http://h-source.com/.
On behalf of the board of directors of H-Source Holdings Ltd.
CEO & Director
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This news release contains forward-looking statements relating to the completion of the listing of the Company's shares on the TSXV 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 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 satisfy the conditions of the TSXV 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. 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 applicable law.
SOURCE H-Source Holdings Ltd.
For further information: Nicole Marchand, 416-428-3533, [email protected]
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