Renfrew Assiniboine Contracts
September 4, 2002 (QHR – TSX) Mr. Al Hildebrandt, President and CEO of the Company, is pleased to announce that QHR has received two new contracts that will add in excess of $330,000 CDN in new business for the implementation of its Human Resource (HR) software product, Quadrant HR.
The first contract is from Renfrew Victoria Hospital, a fully accredited, acute and chronic care community hospital with 325 employees located in Renfrew, Ontario. This hospital serves a population of nearly 100,000 in Renfrew County in the heart of the Ottawa Valley. The hospital offers a wide range of services including 24-hour emergency care, diagnostics, surgery, out-patient, and community mental health programs. Renfrew Victoria will be installing several modules of Quadrant HR including Payroll and Human Resources. QHR will be interfacing its payroll software with a suite of healthcare financial software products from Momentum Healthware Corporation of Winnipeg.
The second contract is for a Quadrant HR license expansion in the newly formed Assiniboine Regional Health Authority in Souris, Manitoba. The new health authority is a merger of the former Marquette Regional Health Authority, one of QHR’s earliest clients, and the former South West-Man Health Region. Assiniboine has an annual operating budget of $100 million and employs over 3,000 people. They operate 20 acute care facilities, 28 long- term care facilities and provide public health, mental health, diagnostic, emergency medical, and home care services. The employees, currently on a payroll service bureau, are being converted to Quadrant HR’s core Payroll and Human Resources modules. QHR will be interfacing its payroll software with a suite of healthcare financial software products from Momentum Healthware Corporation of Winnipeg.
With this contract expansion, Quadrant HR is now contracted as the HR and Payroll system for over 6,000 employees in three Manitoba provincial health authorities and two Winnipeg healthcare facilities.
The two contracts will add revenues in excess of $330,000 CDN for software licenses, implementation and support services of which the majority is scheduled to be recognized during the current fiscal year. Due to the increase in the rate of customer adoption of Quadrant HR over the past year the Company is expanding is client services division to handle the administration, support and implementation of these new contracts.
QHR Technologies Inc. is engaged in the business of developing and implementing Human Resource, Payroll and Workforce Planning software solutions. QHR’s mission is to become a global leader in human resource software designed for complex payroll environments. QHR is developing software solutions designed to handle all elements of human resource management including human resources, payroll and employee relations.
On behalf of the Board of Directors
Al Hildebrandt President & Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
