KELOWNA, BC, April 12, 2012 /CNW/ - (TSX-V: QHR) QHR Technologies Inc. ("QHR" or the "Company") a leader in the Canadian Healthcare Information Technology sector, reports that its Enterprise Management Software ("EMS") division of QHR Software Inc. has recently signed new licensing and services contracts valued at over $1.6 million with new and existing clients.
These contracts are for new and/or expanded licensing of the EMS division products and the related implementation services for clients installing Quadrant Workforce and Financial solutions. The EMS division's specialized installation and training services are utilized when clients expand their user base or additional healthcare sites are added.
"We are excited about the expansion of 2012 business opportunities for the EMS division which in addition to our recurring revenue provides the basis for continued business growth:" said Al Hildebrandt, President and CEO.
The majority of the new $1.6 million in licensing and related services contracts is expected to be delivered during the second and third quarters of 2012.
In a related corporate financial update, the Company will be reporting its December 31, 2011 annual financials and news release on April 17, 2012. Following the financials release will be investor call hosted by company executives on Wednesday April 18, 2011 at 2:00 PM EST. Call in instructions to be provided on the financials news release.
About QHR Technologies Inc.
QHR operates two business units in distinct markets:
The Electronic Medical Records ("EMR") division offers a suite of medical software modules that provides 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 of the move throughout Canada to provide electronic healthcare records for all Canadians. The EMR division also provides on-site and off-site (ASP) hosting capabilities.
The Enterprise Management Software ("EMS") division specializes in workforce management software, which consists of integrated payroll, staff scheduling and human resource software, and in customized financial management software built on the Microsoft Dynamics GP platform. These products are targeted at complex healthcare, social services and public safety environments.
Legal Notice Regarding Forward Looking Statements
This news release contains "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. Forward looking statements in this press release include that we have secured $1.6 million in new EMS contracts and that the majority of the new $1.6 million in licensing and related services contracts is expected to be delivered during the second and third quarters of 2012. 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.
For further information:
Al Hildebrandt, President & CEO
John Gillberry, EVP & Chief Financial Officer