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Vitalhub Corp (2)
Symbol VHI
Shares Issued 43,400,258
Close 2022-09-29 C$ 2.33
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Vitalhub signs prEDict deals with two Ontario hospitals

2022-09-29 09:13 ET - News Release

Mr. Dan Matlow reports

VITALHUB ANNOUNCES MULTI YEAR CONTRACT WITH STEVENSON MEMORIAL HOSPITAL AND GEORGIAN BAY GENERAL HOSPITAL

Vitalhub Corp. has signed two new licensing agreements of its prEDict solution to Stevenson Memorial Hospital (SMH) and Georgian Bay General Hospital (GBGH), both in Ontario. Stevenson Memorial Hospital (Alliston) has signed a five-year term and Georgian Bay General Hospital (Midland) has signed a three-year term, with two optional one-year extension periods.

prEDict is an emergency department (ED) wait time clock that accurately broadcasts wait times to the community through the hospital website. This unprecedented period in health care is currently being made more complicated by staffing issues and higher-acuity patients.

With emergency departments across the country under significant and severe pressure, communicating ED wait times to the public manages patient expectations and alleviates the disruption of staff being asked constantly for an update related to when they will be seen. Unlike conventional emergency department wait time clocks that rely on averages, prEDict uses data analytics and machine learning algorithm to predict the expected ED wait time with greater-than-90-per-cent accuracy.

The signing of GBGH marks a significant milestone for Vitalhub and the prEDict solution. GBGH is the third of four hospitals alongside Collingwood General & Marine Hospital (CGMH) and Royal Victoria Regional Health Centre (RVH) to adopt the prEDict ED wait time clock as part of the CARE4 group of hospitals, creating a regional network of hospitals providing ED wait times to their community.

The CARE4 group was created and designed to improve the quality and delivery of patient care across the partner hospitals through leveraging technology, of which the prEDict ED wait time solution will directly contribute.

In addition to the CARE4 group, the signing of SMH represents the second of three hospitals in the SHINE group to have adopted the prEDict solution, with the first being Oak Valley Health (Markham Stouffville Hospital). The Shared Health Information Network Exchange (SHINE) is a partnership between Oak Valley Health, Southlake Regional Health Centre and Stevenson Memorial Hospital that will enable the three organizations to share electronic medical records. The adoption of prEDict at two SHINE group hospital sites further solidifies the group's goal of a more unified health system and experience for the communities they serve.

SMH and GBGH licensed the prEDict solution to improve transparency with the community and patients coming to the hospital by providing them the expected ED wait time prior to their arrival. Systems like prEDict are designed to help hospitals communicate the hospital status to the community and ease the burden on front line staff. The addition of an ED wait time solution to the hospital website and waiting room will assist the community, patients and staff alike as it will help reduce uncertainty, anxiety and frustration for patients coming to the hospital.

"We are thrilled to be introducing Vitalhub's prEDict wait time clock at Stevenson as a helpful resource for our staff, patients and community," said Dr. Matthew Myatt, chief of emergency medicine, SMH. "Having this information available will go a long way to support patients when they come to our emergency department, helping to meet wait time expectations."

"GBGH is committed to transparency and accountability with the community we serve," said Matthew Lawson, president and chief executive officer of GBGH. "Having this ED wait time clock available to patients represents continued progress in our strategy of leveraging technology to improve the patient experience and providing timely access to information."

"Vitalhub is excited to continue expanding the footprint of our software solutions across Canadian hospitals following a period of unprecedented change in health care," said Dan Matlow, chief executive officer of Vitalhub. "prEDict will help contribute to an improved patient experience by providing the community with important information at their fingertips. We welcome the investment by GBGH and SMH in our technology and are looking forward to partnering with them."

About Vitalhub Inc.

Vitalhub develops mission-critical technology solutions for health and human services providers in the mental health (child, youth and adult), long-term care, home health, community and social services, and acute care sectors.

Vitalhub develops technologies in two primary categories: patient flow, operational visibility and patient journey optimization solutions; and electronic health record, case management, care co-ordination and optimization solutions. The company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite and pursuing a strategic M&A (merger and acquisition) plan. Currently, Vitalhub serves more than 600 clients across Canada, the United States, the United Kingdom, Australia, New Zealand, the Middle East and Europe.

Vitalhub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The Vitalhub team comprises more than 200 team members globally. The company is publicly traded on the Toronto Stock Exchange under the symbol VHI and on the OTC Markets' OTCQX exchange under the symbol VHIBF.

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