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Vitalhub Corp
Symbol VHI
Shares Issued 165,306,799
Close 2019-10-15 C$ 0.16
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Vitalhub signs statewide licensing deal in Tasmania

2019-10-15 09:38 ET - News Release

Mr. Dan Matlow reports

VITALHUB ENTERS AUSTRALIAN MARKET WITH STATE-WIDE DEAL

Vitalhub Corp. has entered into the Australian market, having signed a provincial deal with the Tasmanian Health Service.

At the onset of the project, Vitalhub subsidiary the Oak Group completed a clinical utilization management review study across 1,000 medical, surgical and mental health patients throughout the Tasmanian health care system. The goal of the study was to identify opportunities to provide additional and alternative levels of care for patient treatment, or enhanced resources at existing levels of care, to support the Tasmanian Department of Health and Human Services' strategy of improving quality and efficiency of patient care delivery. A number of major hospitals, mental health facilities and rural hospitals participated in the utilization review.

The study identified significant opportunity to improve patient flow across the system and, as a result, the requirement for a clinical utilization review was tendered. After a lengthy process and procurement cycle, Vitalhub is pleased to announce it has signed a statewide licensing agreement for licensed Oak Group's evidence-based decision-support acuity management tool to assist clinicians and case managers in deciding the most appropriate level of care and care settings for each patient across the entire 1,000-bed system for up to five years. This deal marks the first Oak Group product of its kind to enter the Australian market.

There are approximately 94,000 hospital beds in the Australian market, across approximately 1,330 hospitals. Vitalhub estimates a price of approximately $200 to $250 per bed per annum, creating an approximate annual market opportunity of $18.8-million to $23.5-million for Vitalhub to address, providing high-value patient flow solutions to the Australian market that aim to improve efficiencies, reduce costs, and improve the delivery and quality of care.

"Our entry into the Australian market marks another meaningful milestone in our continued growth strategy, as we look to expand our presence in key, selected global markets," said Dan Matlow, chief executive officer of Vitalhub. "We not only have operations use of the Oak Group's products in the U.K. and Qatar, but now in Australia as well."

About Vitalhub Corp.

Vitalhub develops mission-critical technology solutions for health and human services providers in the mental health (child through adult), long-term care, community health service, home health, social service and acute care sectors. Vitalhub technologies include blockchain, mobile, patient flow, Web-based assessment and electronic health record solutions.

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