KELOWNA, BC, Aug. 20, 2014 /CNW/ - (TSX-V: QHR) QHR Corporation ("QHR" or the "Company") a leader in the Healthcare Information Technology and Solutions is pleased to announce that QHR's board of directors has appointed Mr. Mark Kohler as Executive Chairman of the board effective today, August 20, 2014.
Mr. Kohler has been contributing to QHR's business since 2010, initially as an advisor on financial disclosure and corporate development matters, and then as a member of QHR's board of directors since July 2011. He has been the Chair of the Audit Committee and serves on the Nominating and Corporate Governance, and the Corporate Development Committees. To assist with this role change, Mr. Tom Liston will assume Mr. Kohler's position of Chair of the Audit Committee, and Mr. Kohler will continue as a member of this statutory committee.
Mr. Kohler's unique set of skills and experience has been gained over 26 years of enabling and building transformative businesses in the healthcare, technology and financial services sectors in North America. He has also served as an advisor or a Board member for some of Canada's leading public and private company Boards, and is respected for his strategic and governance expertise, particularly with growth, and acquisition oriented technology enterprises. He is currently the Chairman and CEO of Exelerate Capital (Toronto), a strategic and capital advisory firm that provides corporate finance, M&A, IT strategy and governance/risk/compliance services to healthcare, technology, and financial services, organizations, and private equity funds in North America.
Mr. Kohler is a CPA, CA, and Certified Director, having obtained his ICD.D designation from the Institute of Corporate Directors and the Rotman School of Management at the University of Toronto.
Al Hildebrandt, President and CEO of QHR Corporation comments "I first met Mark, when Exelerate Capital was selected to assist QHR with the required operational reviews and regulatory IFRS disclosure and transition project that required significant effort for most other companies. Mark guided our IFRS transition efficiently from September 2010 to May 2011, and then joined the QHR Board of Directors in July, 2011. Mark has been a key contributor to the board ever since, and his wealth of knowledge on technology and healthcare matters brings with it his commitment to deliver his strategic and operational insights to our executive management team. He was a valued partner with management during such significant initiatives as the recent profitable divestiture of our EMS division, and I look forward to working more closely with him in the future."
Mr. Gordon Glenn, previous Chairman of the board stated "I am pleased that Mark has accepted this new role as Executive Chairman with our Board and our Company. I also look forward to working with him in my new capacity as the Lead Independent Director, and as the Company continues to make positive progress with its growth initiatives."
Commenting on the appointment and his new role on the board, Mr. Kohler said "I am eager to lead our Board of Directors and to also work more closely with the executive management team at QHR. We will reinforce our efforts to enhance shareholder value through strong corporate governance practices, increase our relationships in the healthcare technology and solution sectors, and capitalize on our many opportunities to deliver on strategic growth."
The Company also announces that, pursuant to its stock option incentive plan, it has granted 500,000 stock options to Mark Kohler to purchase 500,000 common shares of the company at an exercise price of $1.20 per share, vesting over a 3 year period, and a term of 5 years. The stock options are subject to the terms of the Company's stock option plan and the stock option agreement.
On behalf of the Board of Directors
Al Hildebrandt, President and CEO
About QHR Corporation
QHR is a leader in quality and technology, providing software and services in the following markets:
In the EMR market, QHR offers a suite of medical software modules that provide computer-based medical records for family physicians, medical specialists, and surgeons, as well as administrative modules for billing and patient scheduling, that is a key component in the move throughout Canada to provide electronic healthcare records for all Canadians. QHR also provides on-site and off-site (ASP) hosting capabilities for the EMR market.
In the RCM market, QHR 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 progressive medical billing service that outsources coding, payer reconciliation and revenue reporting. SoftCare provides a suite of healthcare interoperability solutions (EDI and Clearinghouse) and professional services. These solutions and 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. The RCM division markets SoftCare services primarily in the US.
Legal Notice Regarding Forward Looking Statements
This news release does not contain any "forward looking statements" within the meaning of applicable Canadian securities legislation. 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: Jim Wilson, VP Marketing & Communication, QHR Technologies Inc., 416-220-7484, [email protected]