KELOWNA, BC, July 2, 2015 /CNW/ - (TSX-V: QHR) QHR
Corporation ("QHR" or the "Company"), a leader in the Canadian
Healthcare Information Technology sector, is pleased to announce
that its wholly-owned subsidiary, QHR Technologies Inc., has
completed its acquisition of the healthcare assets of Jonoke
Software Development Inc. ("Jonoke"), including its proprietary
Electronic Medical Record ("EMR") software and its
clients.
As previously announced the all-cash purchase price is tied to
an earn-out paid over a period of time during which QHR and Jonoke
will be working together to transition Jonoke's clients to QHR's
Accuro®EMR system. The earn-out is estimated to be under
$500,000 over a three year
period.
Jonoke is a privately owned company based in Edmonton, Alberta, with a current client base
of over 750 physicians located in Alberta, Manitoba and Ontario which currently generates
approximately $1 million in annual
support revenues for the Jonoke products. QHR intends to
transition these clients to its Accuro platform.
The Company expects that with the existing Jonoke revenue, this
acquisition will be accretive to QHR's earnings in the third
quarter of this year.
On behalf of the Board of Directors
Mike Checkley, President &
CEO
About QHR Corporation
QHR is a leader in Healthcare Technology, empowering providers
and connecting patients. With an 11-year track record
offering what is now the single leading Electronic Medical Records
platform in Canada, QHR has a
suite of complementary offerings that empower health professionals
and drive the Company's growth. The Company's technologies and
services enable secure medical records management for clinical
environments, empower health providers with tools for virtual care
including secure video and messaging, and tools for clinic
management including scheduling, billing, and patient management,
Health providers choose QHR to drive efficiencies within their
practice and improve the quality of care delivered to patients.
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 news release include those
concerning the Company's intent to transition the Jonoke clients to
its Accuro Platform during the earn-out period, its anticipation
that those transitions will be smooth and seamless.
Risks that may prevent or delay the forward looking
statements from coming to fruition include that Jonoke clients
might choose not to transition to the Accuro platform, industry
regulation; competition; the availability of capital and key
personnel, obsolescence, workflow and market factors that may
increase costs. 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 the
Company's policy not to update forward looking statements except to
the extent required under applicable securities laws. Further
information on the Company is available at www.sedar.com or at the
Company's website, www.QHRtechnologies.com.
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 release.
SOURCE QHR Corporation