QHR ENTERS INTO MAJOR MARKETING AND SALES AGREEMENT
September 25, 2000 (QHR – CDNX) QHR Technologies Inc. (the “Company”) is pleased to announce that it has entered into a Joint Marketing Agreement with Medical Services Management Inc. (“MSM”) of Wakefield, Massachusetts, for the purpose of pursuing and developing business from healthcare organizations. MSM currently provides healthcare applications to over eight hundred North American, United Kingdom and South African healthcare providers. The Agreement is effective immediately.
Under the terms of the Agreement, MSM will have the exclusive right to sell the human resources (“HR”) component of the Company’s HR, payroll and staff scheduling software to five hundred of MSM’s current clients in the United States. In addition, MSM will have the non-exclusive rights to market the Company’s payroll and staff scheduling software. The Company’s HR software assists businesses in recruitment, benefits administration, and workflow management.
In order to keep its exclusive marketing rights of the HR software for its five hundred customers, MSM must meet certain minimum sales of the Company’s software in each year of the five year term of the Agreement. The minimum required in calendar year 2001 is $1,725,000.00 U.S., with escalation in the following years.
As part of the Agreement, the Company is entitled to market MSM’s integration application software, so that the Company is able to sell its HR and staff scheduling software to healthcare providers who are using a competitor’s payroll software.
Medical Systems Management, Inc. is an internationally recognized, multi-million dollar provider of state-of-the-art software, consulting services and custom programming. Since its inception in 1973, MSM has been solely focused on the healthcare industry. In 1998 MSM was recognized as one of the fastest growing software companies in New England. In October, 1999, was ranked as one of the best healthcare technology companies in the Healthcare I.T. Performance Report conducted by KLAS Enterprises (with R.L. Johnson and Associates) For more information, refer to the MSM web site at www.med-sys.com.
QHR Technologies Inc. is engaged in the business of developing and implementing human resource software solutions and technology business acquisitions. QHR’s mission is to become a global leader in human resource software. QHR is developing a single software solution designed to handle all elements of human resource management including human resource inventories, staff scheduling, payroll and database management.
