Central Manitoba IHA Contracts
October 17, 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 $500,000 CDN in new business for the implementation of its Human Resource software product, Quadrant HR.
The first contract is from Regional Health Authority – Central Manitoba (“RHA”). RHA Central covers a wide geographic region in the central and southern portion of Manitoba serving a population base of approximately 100,000. RHA has an annual operating budget of $127 million and employs over 2,400 people. RHA also provides additional support services for several hundred healthcare employees in associated healthcare facilities. They operate 14 acute care facilities, 15 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 the core Payroll and Human Resources modules of Quadrant HR. QHR will be interfacing its payroll software with a suite of healthcare financial software products from Momentum Healthware Corporation.
The second contract is from Interior Health Authority in Kelowna, BC and is for the new web-based Applicant Tracking functionality being added to Quadrant HR. Interior Health’s head offices serve a region stretching from Williams Lake to the US Border, and from Anahim Lake in the Chilcotin to the Alberta border; it represents a population base of nearly 700,000 people. Interior Health’s annual operating budget is $1.1B. They employ 18,000 full and part time employees across the region that includes 31 acute care sites, numerous long-term care facilities, homecare, and auxiliary healthcare locations.
Quadrant HR will be interfaced with Interior Health’s current Meditech payroll system as well as providing a seamless interface to Interior Health’s own website. This allows current employees and applicants to view job postings with secure integration between the three different systems. With this implementation, Interior Health becomes the largest single client of QHR with approximately 18,000 employees serviced within a single database and brings the total number of employees on Quadrant HR to over 60,000 employees.
The two contracts will add revenues of $500,000 CDN for software licenses, implementation, and support services of which approximately two thirds will be recognized during the current fiscal year and the balance in 2003. Due to the increase in the rate of customer adoption of Quadrant HR over the past year, the Company is expanding its 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.
