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QHR Announces Support-Revenue in Excess of $2,050,000 for 2007
Tuesday, January 30, 2007
January 30, 2007 (QHR - TSX Venture Exchange) Mr. Al Hildebrandt, President and CEO of the Company, is pleased to report that the Company's wholly owned subsidiary, QHR Software Inc. has increased its recurring support revenue in 2007 to approximately $2,050,000.
Support services revenue for 2007 is up approximately 17% from 2006 and represents the fifth consecutive year with growth in this important revenue area. The growth of annually recurring support service revenue is being fuelled by the addition of new clients and the adoption of additional HR functionality by existing clients. The
progress of the financial contribution of support agreements to the ongoing financial health of QHR can be demonstrated as follows:
| 2007 | 2006 | 2005 | 2004 | 2003 | |
| Support Revenue | $2,050,000 | $1,750,000 | $1,400,000 | $1,000,000 | $750,000 |
| Growth Rate | 17% | 25% | 40% | 33% | 50% |
Support revenue provides a reliable annual source of capital for the operations of the Company. The combination of recurring revenue from HR software and its Electronic Medical Record software now exceeds $2,750,000 annually.
For a more complete business and financial profile of the Company, management encourages interested parties to visit the Company's website, www.QHRtechnologies.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 the transaction will add 200 doctors to the client operations of the Company but the transaction does not add enough revenue to assure profitability or the potential need to raise additional new equity capital should new sales levels in 2007 not reach budgeted requirements. These statements are subject to risks that may cause the actual results to be materially different from those expressed or implied by such forward looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Further risk information on the Company is available at www.sedar.com.
For further information, please contact:
Al Hildebrandt at (250) 979-1701
ahildebrandt@QHRtechnologies.com
Investor Relations - Tangent Mgmt. 1-866-345-0115
info@tangentmanagementcorp.com
Click here to download a PDF
© 2007, QHR Technologies Inc.
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Optimed Completes Acquisition of 250 Doctor client base in Saskatchewan
Wednesday, January 24, 2007
January 24, 2007 (QHR - TSX Venture Exchange) Mr. Al Hildebrandt, President and CEO of the Company, is pleased to announce that its wholly owned subsidiary Optimed Software Corporation ("Optimed") has completed its agreement with iQMedX as previously announced by press release dated September 21, 2006. Optimed purchased their Electronic Medical Records ("EMR") software including their 250 physician Saskatchewan clients.
CDN$250,000 was paid to acquire the EMR assets. Optimed provides support for their existing client base from its Regina office. Optimed has begun transition strategies to move these clients onto Optimed's proprietary EMR software known as Accuro™ EMR during 2007. The transaction has added over $150,000 in assured annual recurring revenue to the financial assets of Optimed. Additional future revenue increases are expected to come from fee increases for additional EMR functionality from Optimed systems. For information on Optimed products and services visit its new website at
www.optimedsoftware.com.
The EMR market is emerging and consolidating in Canada. Numerous small vendors many of whom do not have the resources to build the full EMR systems being specified by government agencies currently service the medical practice market in Canada. The acquisition of the Medicentre product and client base reflects this consolidation process. Optimed now services approximately 1,000 doctors with technology management of which 260 are on Accuro™ EMR systems.
Optimed has built its Accuro™ product solutions to meet the specific needs of individual doctors in Canada and their business practices. Doctors can take advantage of the quick implementation, easy to use and comprehensive flexibility of
Accuro™ technology and configure their own personal preferences to streamline their workflow. This is a unique feature amongst many of our competitors in the EMR market in Canada.
For a more complete business and financial profile of the Company, management encourages interested parties to visit the Company's website, www.QHRtechnologies.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 the transaction will add 200 doctors to the client operations of the Company but the transaction does not add enough revenue to assure profitability or the potential need to raise additional new equity capital should new sales levels in 2007 not reach budgeted requirements. These statements are subject to risks that may cause the actual results to be materially different from those expressed or implied by such forward looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Further risk information on the Company is available at www.sedar.com.
For further information, please contact:
Al Hildebrandt at (250) 979-1701
ahildebrandt@QHRtechnologies.com
Investor Relations - Tangent Mgmt. 1-866-345-0115
info@tangentmanagementcorp.com
Click here to download a PDF
© 2007, QHR Technologies Inc.
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