AB Wellnet Agreement
December 16, 2002 (QHR – TSX) Mr. Al Hildebrandt, President and CEO of the Company, is pleased to announce that Alberta Wellnet has executed a Standing Offer Contract (“Contract”) for the health authorities and their affiliates in Alberta with the Company’s wholly owned subsidiary, QHR Software Group Inc.
The Contract allows the Alberta Health Authorities and their affiliates to purchase human resource (“HR”) and payroll applications that QHR offers in its Quadrant HR suite of products without any further tender or regulatory process. The Contract is in force until October 31, 2005. Pricing arrangements have been approved for the duration of the Contract, however at this time there are no commitments to purchase any software from QHR. Individual regional sales will be announced as they occur.
The Contract is the result of the Administrative Solutions Common Opportunity Initiative in which Alberta Wellnet issued a Request for Proposal (“RFP”) for HR, payroll, staff scheduling and financial software applications on behalf of several health authorities. Through the RFP and evaluation process, the participating health authorities selected QHR as the preferred vendor solution for their HR, payroll and scheduling applications based on the functionality offered, and a competitive price model.
Over the past two years QHR has participated in this RFP process and in the end QHR has been able to demonstrate the power of the Quadrant HR software. Alberta Health has recently announced that it will merge seventeen health authorities into nine. The objective of their re-structuring has been to continue to administrate the same number of employees with improved effectiveness, efficiencies and cost controls. After careful and detailed due diligence by Alberta Wellnet, they have chosen QHR and Quadrant HR as a valid software solution to achieve their goals for the entire province of Alberta. There are approximately 60,000 employees in Alberta that could potentially be part of this agreement.
QHR Technologies Inc. is engaged in the business of developing and implementing a complete human resource software solution including payroll and staff scheduling. The Company’s mission is to become a global leader in human resource software designed for complex payroll environments.
Management encourages interested parties to visit the Company’s website, www.QHRsoftware.com, for a more complete business and financial profile of the Company.
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.
