TORONTO, Jan. 07, 2019 (GLOBE NEWSWIRE) -- VitalHub Corp. (the “Company”) (TSXV: VHI) is pleased to announce that the Province of Nova Scotia (“NS”) has signed a five-year agreement, with options to extend for a total of five additional years, to license VitalHub’s TREAT client management software to support the Department of Community Services (DCS) transformation following the issuance of a Request For Proposal (RFP) for a digitally enabled Collaborative Case Management Solution.
This agreement represents a significant and material event for VitalHub. The five-year contract value includes a combination of recurring license revenue and professional services delivered over five years, which together are expected to equal approximately $9 million (CAD) over the initial term.
The Department of Community Services is the largest direct deliverer of human and social services in Nova Scotia. The primary responsibility of DCS is to ensure the basic needs of individuals and families are met by providing services and supports to persons in need and by protecting children and adults at risk. These services form a secure and predictable social safety net for Nova Scotians and help contribute to better futures for children and families, persons with disabilities, seniors, and communities. Upon implementation of the TREAT Software, all DCS program areas, including Employment Support and Income Assistance; Child, Youth & Family Supports; and Disability Support Program, will be using the software.
NS DCS has been undergoing significant transformation in the last few years, including working toward developing and recommending changes to programs, policies and service delivery. The RFP was issued recognizing that there is a requirement for an innovative software solution to improve the delivery of supports and services for Nova Scotians. The Province’s RFP sought a configurable Commercial Off the Shelf (COTS) system to simplify administration and deliver services quicker to clients in an integrated fashion.
VitalHub’s TREAT software was selected following an extensive and thorough evaluation process. Once deployed across all programs, the TREAT software will support DCS and affiliated service provider employees and offer online access to DCS Services for the citizens of the Province.
“Nova Scotia is focused on ensuring that the citizens who require DCS services are supported as effectively and efficiently as possible, and they’re addressing this through program-related changes and by assuming a leadership role in developing innovative technology solutions and infrastructure on a client-centric as opposed to program-centric basis to support service improvements,” said Dan Matlow, CEO of VitalHub. “We are hopeful that their mandate and this project will set an example for other provinces to follow.”
VitalHub is also pleased to announce that on December 27, 2018 it granted an aggregate of 200,000 stock options to certain of its employees (the “Options”) as part of its reorganization and integration plan, pursuant to the terms of the Corporation’s incentive stock option plan. Each Option is exercisable for one common share of the Corporation at an exercise price of $0.145 per share, and are set to expire on December 27, 2023.
VitalHub develops and supports mission-critical information systems in the Social Service, Mental Health (Child, Youth and Adult), Long Term Care, Community Health Service, Home Health and Hospital sectors. VitalHub technologies include Blockchain, Mobile, and Web-Based Assessment and Client Management and Electronic Health Record solutions.
The Company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing an aggressive M&A plan. Currently, VitalHub serves 200+ clients across North America. VitalHub is based in Toronto, Canada, with an offshore innovation hub in Sri Lanka. The Company is publicly traded on the TSX Venture Exchange under the symbol "VHI".
ABOUT NOVA SCOTIA DEPARTMENT OF COMMUNITY SERVICES
Vision: Social and Economic well being for all Nova Scotians
Mission: The Department of Community Services is committed to a sustainable social service system that promotes the independence, self-reliance, and security of the people we serve. This will be achieved through excellence in service delivery, leadership and collaboration with our partners.
The TSX Venture Exchange has in no way passed upon the merits of the transactions and has neither approved nor disapproved the contents of this press release. 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 press release.
Chief Executive Officer, Director