QHR SOFTWARE AWARDED $700,000 IN NEW CONTRACTS
Mr. Al Hildebrandt, President and CEO of the Company, is pleased to report that the Company’s wholly owned subsidiary QHR Software Inc. has been awarded several new contracts from healthcare clients in Western and Atlantic Canada to supply various functionality from the Company’s integrated suite of proprietary software known as Quadrant HR.
The contract will provide approximately $700,000 in new revenue for the Company. Implementation will commence immediately and no additional Company resources will be required to fulfill these contracts.
The traditional marketing of Quadrant HR to healthcare clients has been a lengthy, complicated and expensive sales process. These new contracts are significant in that Quadrant HR products continue to be recognized, accepted and adopted.
QHR will continue to announce the impact of new contracts as they occur. The recent volume of new business will maintain the financial health of QHR for much of 2006 and allow the Company to continue to implement its long-term business plans on behalf of its shareholders.
For a more complete business and financial profile of the Company, management encourages interested parties to visit the Company’s websites, www.QHRtechnologies.com and the new www.QHRsoftware.com
On behalf of the Board of Directors
Al Hildebrandt
President & Chief Executive Officer
Legal Notice Regarding Forward Looking Statements -
This news release contains “forward looking statements” within the meaning of applicable Canadian securities legislation. Forward looking statements are indicated expectations or intentions.
Forward-looking statements included in this news release include: that revenues from these contracts will reach $700,000; that we will announce the impact of new contracts as they occur; that the recent volume of new business will maintain the financial health of QHR and allow us to continue to implement our long-term business plans. These statements are subject to risk that may cause the actual results to be materially different from those expressed or implied by such forward looking statements. Such risks, include but are not limited to: products do not operate as intended; inability to attract or maintain qualified employees; the existence of government regulations that may adversely affect our product or its sales; increasing competition that exists in the HR software industry and the possibility that competitors may commercialize a better, cheaper system; our losing contracts we currently have or expect to win; and requirement for additional financing to meet our business plans.
