Science & Technology
Science and Technology
Science and Technology 
Tue, July 26, 2011
Mon, July 25, 2011
KELOWNA, BC, July 25, 2011 /CNW/ - QHR Technologies Inc. ("QHR" or the "Company") (TSX-V: QHR) today announced that the Company has acquired the secured debentures from Healthscreen Solutions Incorporated's ("Healthscreen") senior lender.
Healthscreen had previously announced that it was seeking strategic options in order to restructure its business and satisfy the lender's obligation which was in default. The acquisition of the debentures allows QHR the ability to play an integral and strategic role in this reorganization while preserving the assets and provide continuity of service to the Healthscreen 5,200 physician clients.
QHR will make an offer to Healthscreen to purchase it's Software division as a whole, which would provide Healthscreen's customers with ongoing support and maintenance of their current products. QHR's, EMR division, Optimed Software Corporation ("Optimed") can offer Healthscreen clients its EMR product, as well as a cost effect patient data migration path to its flagship product Accuro EMR.
Oh behalf of QHR Technologies Inc.
Al Hildebrandt, President and CEO
About QHR Technologies Inc.
QHR now operates three business units in distinct markets:
The Enterprise Management Software ("EMS") division specializes in workforce management software, which consists of integrated payroll, staff scheduling and human resource software, and in customized financial management software built on the Microsoft Dynamics GP platform. These products are targeted at complex healthcare, social services and public safety markets.
The Electronic Medical Records ("EMR") division offers a suite of medical software modules that provides computer-based medical records for family physicians, medical specialists, and surgeons, as well as administrative modules for billing and patient scheduling, that is a key component of the move throughout Canada to provide electronic healthcare records for all Canadians.
The Hosting division specializes in EMR ASP Hosting solutions both on-site and off-site, which consist of custom application hosted solutions, exchange email hosting, office software packages, mobile messaging services, server archiving and many other custom solutions and services. These solutions are targeted at EMR clients looking for an enhanced ASP option, required by some provincial governments.
For a more complete business and financial profile of the Company management encourages interested parties to visit the Company's website, [ www.QHRtechnologies.com ] and further information on the Company is available at [ www.sedar.com ].
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further risk information on the Company is available at [ www.sedar.com ].
Legal Notice Regarding Forward Looking Statements
This news release may contain "forward looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are indicated expectations or intentions. Results from operations in any given period are not necessarily indicative of results to be expected in future periods. QHR is a technology business development enterprise where investment; various trends and factors in the marketplace; and product enhancements must be carefully managed to achieve long-term revenue growth and profitability. These statements are subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward looking statement. It is our policy not to update forward looking statements.
Forward looking statements in this news release include that we will make an offer to purchase the assets of Healthscreen Software Assets, that QHR will play an integral role in preserving the assets and providing continuity of service and that we can successfully transition Healthscreen clients to our product. Factors that could delay or prevent these forward looking statements from coming to fruition include being unable to complete for any one of a variety of reasons, including being unable to agree on a definitive agreement, being unable to obtain necessary approvals or due diligence determining the transaction is unsuitable. Furthermore, our competitors may make more attractive offers to Healthscreen and our offer is not accepted. Readers should not place too much reliance on forward looking statements and are cautioned to read the risk factors set out in our latest management discussion and analysis filed on SEDAR. It is not our policy to update forward looking statements.