Acquisition QHR Acquires PatientPrep Technology
KELOWNA, BC, June 2, 2016 /CNW/ - (TSX-V: QHR) QHR Corporation ("QHR" or the "Company"), a leader in the Healthcare Information Technology sector, is pleased to announce that it has acquired ownership of the Canadian rights to PatientPrep from TrueVation Technologies Inc. The purchase price is $500,000 paid in two parts, the first of which $380,000 will be paid at closing and the balance of $120,000 will be paid over a twelve-month period during which the PatientPrep product will be enhanced by further development.
The structure of the deal grants exclusive Canadian ownership of PatientPrep to QHR. TrueVation will continue to own and market the product in other countries, including the United States.
"This acquisition is aligned with our strategy of acquiring technology that adds value to our customers. What PatientPrep brings to current QHR customers is direct time savings through workflow efficiencies. With this offering now under QHR it can be offered through both our Accuro and Medeo product lines," says Mike Checkley, President and CEO of QHR Corporation.
PatientPrep is a product used by healthcare providers to collect specific health condition information from patients as they are waiting to see the provider. The product is designed to run on a tablet and contains clinical templates (there are currently 118 templates) that allow the patient to communicate their symptoms and status of their chronic conditions, which are then summarized to the physician just before the visit, saving the provider and patient time while improving documentation in the Electronic Medical Record.
Dr. Ryan Sander, Chief Medical Officer and co-founder of TrueVation Technologies, noted that "as a doctor, and long-time user of Accuro EMR, I am very confident in the benefits and fit of the 2 products together. I am already using PatientPrep in my practice and saving an average 3 minutes on every patient visit by spending less time on the background information and documentation, allowing me to spend more time on the treatment discussions."
About QHR Corporation
QHR is a leader in Healthcare Technology, empowering providers and connecting patients. With a 12-year track record offering what is now the single leading Electronic Medical Records platform in Canada, QHR has a suite of complementary offerings that empower health professionals and drive growth. QHR's technologies and services enable secure medical records management for clinical environments, empowering health providers with tools for virtual care, including secure video and messaging, as well as tools for clinic management including scheduling, billing, and patient management. Health providers choose QHR to drive efficiencies within their practice and improve the quality of care delivered to patients.
About TrueVation Technologies
TrueVation is a health technology company focused on developing innovative solutions to enhance the delivery of healthcare services. The company's flagship platform, PatientPrep, improves physician productivity and patient satisfaction by collecting and documenting condition specific medical information prior to the appointment. The company is an alumni of New York City's Blueprint Health Accelerator and is actively marketing PatientPrep across Canada and the United States. For more information, visit www.TrueVation.com.