KELOWNA, BC, Nov. 14, 2013 /CNW/ - (TSXV: QHR) QHR Technologies Inc., a subsidiary of QHR Corporation ("QHR" or the "Company") a leader in the Canadian Healthcare Information Technology has been named Canada's 22nd fastest growing technology company in the 2013 Deloitte Technology Fast 50™ awards for technological innovation, entrepreneurship, rapid growth and leadership, based on the percentage revenue growth over five years. QHR's revenue grew from $6.5 million in 2008 to $29.5 million in 2012, an exemplary 352% percent, landing them on this prestigious list.
"Canadian Fast 50 companies innovate, demonstrate leadership, create jobs, and invest in R&D," said Richard Lee, Deloitte's National Managing Partner, Technology, Media and Telecommunications. "They are remarkable companies that show dedication, drive and commitment that are keys to growth in the Canadian technology sector."
QHR Corporation's President and CEO Al Hildebrandt, credits exceptional products, exceptional people and an exceptional vision for the company's exemplary growth. Mr. Hildebrandt said, "Our dedication to our clients' businesses and passion for the development of exceptional software propels us forward as we continue to be leaders in the healthcare sector."
Now in its 16th year, the Deloitte Technology Fast 50 program recognizes leaders in the Canadian technology industry and tracks the successful growth of Canadian-grown global leaders. The Canadian Fast 50 program augments the broader 2013 Deloitte North American Technology Fast 500 initiative, which QHR was also recognized on and ranked 256th. "Technology Fast 500 winners achieve success and strong growth as a direct result of their leadership, and commitment to innovation," said Lee. "They are amongst the elite who transform the technology sector."
"To be recognized as one of North America's Fastest-Growing Companies is a result of the talented and hardworking team we have at QHR. To be ranked on both the Fast 50 and the North America Technology Fast 500 is an honour and we thank our customers and employees for bringing us to this position," says Mr. Hildebrandt.
To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluate and judge companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.
For more about QHR, visit: www.QHRtechnologies.com
For more about the Deloitte Technology Fast 50 Program, visit: www.fast50.ca
For more about the Deloitte North America Technology Fast 500 Program, visit: www.fast500.com
About the Deloitte Technology Fast 50™
The Deloitte Technology Fast 50 program is Canada's pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features four distinct categories including the Technology Fast 50 Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50 candidate,) Leadership Awards (companies that demonstrate technological leadership and innovation within the industry) and the Deloitte Technology Green 15™ Awards (Canada's leading GreenTech companies that promote a more efficient use and re-use of the earth's resources in industrial production and consumption.) Program sponsors include Deloitte, Bennett Jones and OMERS Ventures. For further information, visit www.fast50.ca.
About Deloitte's 2013 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies - both public and private - in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2008 to 2012.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CAD, and current-year operating revenues of at least $5 million USD or CAD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About QHR Corporation
QHR is a leader in quality and technology, providing software and services in the following markets:
In the Electronic Medical Records ("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 Enterprise Management Solutions ("EMS") market, QHR specializes in workforce management software, which consists of integrated payroll, staff scheduling and human resource software, and customized financial management software built on the Microsoft Dynamics GP platform. These products are targeted at complex healthcare, social services and public safety environments.
In the Revenue Cycle Management ("RCM") market, QHR provides best in class clearinghouse services, with over 1500 payers, which assist US healthcare providers to exchange claim information that ensures accurate revenue management. QHR provides a progressive medical billing service that outsources coding, payer reconciliation and revenue reporting. QHR also supports employer health plan enrolment, employee health plan eligibility and health care interoperability through a 5010 standard based EDI gateway. The RCM markets that QHR services are 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:
Vice President, Marketing & Communication
QHR Corporation 416-220-7484