TORONTO, Jan. 4, 2018 /CNW/ - Syncordia Technologies
and Healthcare Solutions, Corp. (TSXV: SYN) ("Syncordia") is
pleased to provide an update on recent business development
contract wins from new contracts signed in calendar Q3 and Q4, 2017
for its subsidiary Billing Solutions LLC.
Billing Solutions LLC, an 80% owned subsidiary of Syncordia, is
a full service third party rehabilitation center billing solutions
company, with its proprietary Nectar analytics software solution,
dedicated solely to the mental and behavioral health industry.
Billing Solutions recently signed some new customer contracts that
it won from clients using other revenue cycle management service
providers and other contracts from groups doing in-house revenue
cycle management. Once fully onboarded these contracts with other
existing efforts will drive EBITDA for Billing Solutions to
approximately US$4.5mm.
Syncordia is also please to share a summary on its blockchain
healthcare solution. Allan
Beechinor, Board Member of Syncordia Technologies and
Healthcare Solutions Ireland Limited and seasoned CTO says "we
intend using our blockchain technology solution to enhance patient
data protection, data use and scheduling efficiency, by utilizing
multi-signatures and cryptography methodologies. The data is hashed
to the Blockchain and then, using multi-signatures, people can gain
access only if there is approval from the appropriate number of
people. Using this technology, and rule based permissions, for
patient records to be accessed, the doctor, the nurse and the
patient must all approve; or an alternative rule can be applied
depending on the policies defined by the clients. An efficient
scheduling system would alleviate stress from government workers
and others to prioritize more complex, client facing tasks over
menial work for an improved quality of service overall. The
knock-on effects of diminished queue times in waiting rooms would
be meaningful and the use of data to improve throughput and quality
of the experience is immense."
Syncordia, is actively working to refinance its existing debt to
position the company for growth into 2018 and beyond and hopes to
provide a more meaningful update in February
2018 on this topic.
Additionally, Syncordia would like to announce, subject to
exchange approval, Telfer Hanson joining the board of directors of
the Company. Telfer brings 20 plus years of healthcare and software
experience as an investment banker, with an extensive network in
Canada and the US. Telfer has also
held recent executive positions at Agility Health and Medic
Holdings, as well as a current director at Nobul Corporation and
past director of Rossiter Boats. Telfer will replace Christopher Martin on the Board of Directors and
in his capacity of Chief Strategy Officer. Chris will remain as an
active Advisor to the Company.
About Syncordia Technologies and Healthcare Solutions, Corp.
dba Syncordia Software
Syncordia Software has a portfolio investment management
approach to its growth by partnering with strong
companies with a focus on healthcare. We like
to partner with well run businesses that have established free
cash flow and a strong propensity to growth with
meaningful easy to use software and IT service solutions.
We are a software and information technology services company with
a focus on healthcare. We are focused on using our proprietary
software suite as an accelerator for growth. Our growth strategy is
to acquire healthcare oriented software and information technology
service companies with great teams and improve their profitability
by increasing revenues and improving operating efficiencies working
with the local management teams. Syncordia will leverage
proprietary software to manage scale, drive better customer
experiences and enhance margins while driving a competitive
sustainable profile.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward Looking Statements
Certain statements herein may be "forward looking" statements
that involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or
achievements of Syncordia or the industry to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Forward
looking statements involve significant risks and uncertainties,
should not be read as guarantees of future performance or results,
and will not necessarily be accurate indications of whether or not
such results will be achieved. A number of factors could cause
actual results to vary significantly from the results discussed in
the forward looking statements. These forward looking statements
reflect current assumptions and expectations regarding future
events and operating performance and are made as of the date hereof
and we assume no obligation, except as required by law, to update
any forward looking statements to reflect new events or
circumstances.
SOURCE Syncordia Technologies and Healthcare Solutions,
Corp.
