TORONTO, Jan. 24, 2018 (GLOBE NEWSWIRE) — B Sharp Technologies, a subsidiary of VitalHub Corp. (“VitalHub”) (TSXV:VHI), has signed a strategic reseller agreement with TELUS Health to distribute a white-labelled version of its mental health software platform, B Care, across Canada. Under the reseller agreement, TELUS Health will provide the technology to a leading Canadian mental health agency.
The B Care platform features a suite of online modules designed to support healthcare professionals who are providing mental healthcare services, including in-patient and outpatient hospital programs and community-based agencies. Currently, TELUS Health and VitalHub have a licensing deal in place that will generate approximately $1 million in revenue upon the successful implementation of the B Care solution. This will help the company to advance its strategy to offer more innovative technology solutions to support the mental health community.
“We are excited for the opportunity this agreement will bring to the many Canadians who are dealing with mental health issues,” says Robert Lazar, CEO of B Sharp Technologies. “The B Care platform is proven to be effective in mental health settings, as demonstrated by the approximately 40 mental health organizations currently using the solution, and its ongoing use in the Canadian mental health marketplace. Working in conjunction with the TELUS Health team, we are confident there will be other significant opportunities to support children who are one of our most vulnerable populations.”
Addressing children’s mental health has become of vital importance and focus worldwide. In Canada, an estimated 1.2 million children and youth aged 5 to 24 are currently affected by mental illness according to The Mental Health Commission of Canada. The Canadian Institute for Health Research reports that up to 20 per cent of Canadian children and youth are at risk of developing a mental disorder. Recently, the Ontario Ministry of Health and Long Term Care increased funding targeted at Child and Youth mental health and will establish hubs where young people can receive walk-in, one-stop access to services.
Together, B Sharp Technologies and TELUS Health are supporting the mental health community in an effort to improve the quality of care Canadians receive, and supporting healthcare practitioners by enabling them to learn and improve the level of care they provide through the collection of quality data analytics.
About B Sharp
Founded in 1998 and based in Toronto, B Sharp Technologies, a subsidiary of VitalHub Corp., develops and deploys client case management and electronic documentation solutions for healthcare, social services, and community care organizations. B Sharp Technologies also has software development operations in Sri Lanka, providing access to skilled and low cost developers. The products of B Sharp
Technologies are used by over 40 customers in 70 locations across Canada. B Sharp Technologies had total unaudited revenues from operations of over $1.8 million for the year-ended December 31, 2016.
VitalHub (the “Company”) 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”.
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.
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