VitalHub Corp. (the “Company” or “VitalHub”) (TSXV:VHI) is pleased
to announce that Ernst & Young LLP (“EY Canada”) has signed a
Marketing Agreement with VitalHub, who is developing WellLinc, a
blockchain interoperability solution targeting the mental health
and long-term care space.
VitalHub and EY Canada’s Health practice have formally agreed to
work together on a co-marketing initiative to bring WellLinc to
market on a global basis. VitalHub’s WellLinc solution uses
blockchain technology to enable the secure and interoperable
exchange of electronic health data, across the continuum of care.
Some of the potential benefits derived from WellLinc include
increased access to health information, leading to improved quality
and appropriateness of care, which could lead to better overall
health outcomes, and lowered costs in the delivery of care.
The relationship with EY Canada Health practice will afford
VitalHub with reach and access into a significant global
distribution network across the target customer demographic. The EY
Global Health practice brings together a worldwide network of more
than 4,000 sector-focused assurance, tax, transaction and advisory
professionals with a range of healthcare and business backgrounds.
The wide-reaching EY network enables them to share leading
practices and insights around the globe. VitalHub is targeting
marketing WellLinc to large healthcare organizations and
governmental bodies and authorities, and the partnership with EY
Canada can provide meaningful access into these organizations.
The combination of EY Canada’s consulting and digital
capabilities in the Health sector, and VitalHub’s domain expertise
across digital health and blockchain, will enable the analysis and
assessment of healthcare organizations with an opportunity to move
toward improved systems design, acuity of services, efficiency of
cost, and improvement in the delivery and quality of care. WellLinc
facilitates the aggregation of electronic health data, providing an
opportunity to extract insights from the data, and will provide
value toward EY Canada’s Health practice range of services, which
include: Cost reduction, system design and transformation,
productivity and performance improvement, service planning, eHealth
and digital strategy.
“Successful commercialization of new software requires a strong
multi-disciplinary team working collectively and collaboratively.
VitalHub brings strong domain expertise and technology with its
WellLinc solution, and EY Canada provides global distribution
channels and the ability to implement high-valued systems on a
large scale,” said Dan Matlow, CEO of VitalHub. “We believe the
healthcare market is ready for an impactful Blockchain solution
like WellLinc, and we look forward to working with EY Canada to
progress this important initiative.”
“As an organization, we have a deep understanding of blockchain
and experience working with companies in this space,” says Abhishek
Sinha, EY Canada Blockchain Leader. “We believe that developing an
interoperable health record offering on the blockchain has great
potential. We look forward to collaborating with VitalHub on the
development and adoption of this offering.”
“An interoperable electronic health record solution is of
extremely high potential value to a broad range of clients, having
the ability to improve performance across healthcare organizations
through increasing access to critical patient health care,” said
John Bethel, EY Canada’s Health Leader. “We believe the combination
of the two organizations can benefit our Canadian customers,
providing opportunities for performance management and improvement,
cost reduction, and other key benefits derived from new-found data
insights.”
VitalHub is also pleased to announce that on May 4, 2018 it
granted an aggregate of 2,350,000 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 $0.15 per
share, and are set to expire on April 30, 2018.
About EY
EY is a global leader in assurance, tax, transaction and
advisory services. The insights and quality services we deliver
help build trust and confidence in the capital markets and in
economies the world over. We develop outstanding leaders who team
to deliver on our promises to all of our stakeholders. In so doing,
we play a critical role in building a better working world for our
people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or
more, of the member firms of Ernst & Young Global Limited, each
of which is a separate legal entity. Ernst & Young Global
Limited, a UK company limited by guarantee, does not provide
services to clients.
For more information about the organization, please visit
ey.com/ca.
About EY’s Global Health Sector
Across the world, health care systems and entities are under
unprecedented pressure. Spiraling costs, exacerbated by aging
populations and emerging market growth, are bringing newfound focus
on value and outcomes. Mobile health and data analytics promise to
revamp care delivery but are also bringing in competitors from
other sectors. For governments, payers and providers, these trends
create a host of challenges: extracting insights from “big data,”
partnering in new ways, boosting operating efficiencies and
more.
EY’s Global Health Sector brings together a worldwide network of
more than 4,000 sector-focused assurance, tax, transaction and
advisory professionals with a range of health care and business
backgrounds. Our wide-reaching network allows us to rapidly share
leading practices and solutions around the globe and deploy diverse
delivery teams to meet your needs.
ey.com/health
ABOUT VITALHUB:
VitalHub uses web, mobile, and Blockchain technology to create
disruptive SaaS-based healthcare applications that solve
industry-wide problems. VitalHub's aim is to create high-value,
secured solutions that enable broad interoperability among existing
health data systems. VitalHub is primarily focused on working with
organizations in the Mental Health and Long-Term Care space, to
further extend organization's applications across the continuum of
care, powered by the security, efficiency, and trust of Blockchain
technology.
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 development hub in Sri Lanka. The Company is publicly
traded on the TSX Venture Exchange under the symbol "VHI".
CAUTIONARY STATEMENT
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.
CONTACT INFORMATION
Dan MatlowChief Executive Officer, Director(416)
727-9061dan.matlow@vitalhub.com
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