KELOWNA, BRITISH COLUMBIA--(Marketwire - Dec. 13, 2010) - QHR Technologies Inc. ("QHR" or the "Company") (TSX VENTURE:QHR) a leader in the Canadian Healthcare Information Technology sector, reports that its EMS division QHR Software ("QHR") has recently signed new services contracts valued at $900,000 from new and existing clients in addition to the $1 million in services contracts announced on Dec 6, 2010.
These contracts are for services from the Enterprise Management Software ("EMS") division for clients using Quadrant Financial and Workforce solutions. The EMS division's specialized installation and training services are utilized when clients expand their user base or additional healthcare sites are added.
The majority of this $900,000 in services contracts is expected to be delivered during 'Q4 2010 and 'Q1 2011. The EMS division has expanded its scope of personal and offerings to deliver these services following significant software license expansions in 2009.
Long term relationships with clients have helped build the Company's annual recurring revenue business model to $12.0 million as of Sept 30/10 up from $7.0 million one year earlier.
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 may contain "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 "The majority of this $900,000 in services contracts is expected to be delivered during 'Q4 2010 and 'Q1 2011". Forward looking statements in this press release may include that profitability of the Company should continue to improve; that we can add new revenues at low marginal costs; that the Company's industry will grow in coming years; that spending in the industry are stable; that trends of the medical industry include interoperable systems and cost control, and the Company is well situated to assist in these endeavours; 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; 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. Further information on the Company is available at www.sedar.com or at the Company's website, www.QHRtechnologies.com.