TORONTO, Jan. 4, 2018 /CNW/ - Syncordia Technologies and
Healthcare Solutions, Corp. (TSXV: SYN) ("Syncordia") is pleased to provide an update on recent business development contract
wins from new contracts signed in calendar Q3 and Q4, 2017 for its subsidiary Billing Solutions LLC.
Billing Solutions LLC, an 80% owned subsidiary of Syncordia, is a full service third party rehabilitation center billing
solutions company, with its proprietary Nectar analytics software solution, dedicated solely to the mental and behavioral health
industry. Billing Solutions recently signed some new customer contracts that it won from clients using other revenue cycle
management service providers and other contracts from groups doing in-house revenue cycle management. Once fully onboarded these
contracts with other existing efforts will drive EBITDA for Billing Solutions to approximately US$4.5mm.
Syncordia is also please to share a summary on its blockchain healthcare solution. Allan
Beechinor, Board Member of Syncordia Technologies and Healthcare Solutions Ireland Limited and seasoned CTO says "we
intend using our blockchain technology solution to enhance patient data protection, data use and scheduling efficiency, by
utilizing multi-signatures and cryptography methodologies. The data is hashed to the Blockchain and then, using multi-signatures,
people can gain access only if there is approval from the appropriate number of people. Using this technology, and rule based
permissions, for patient records to be accessed, the doctor, the nurse and the patient must all approve; or an alternative
rule can be applied depending on the policies defined by the clients. An efficient scheduling system would alleviate stress
from government workers and others to prioritize more complex, client facing tasks over menial work for an improved quality of
service overall. The knock-on effects of diminished queue times in waiting rooms would be meaningful and the use of data to
improve throughput and quality of the experience is immense."
Syncordia, is actively working to refinance its existing debt to position the company for growth into 2018 and beyond and
hopes to provide a more meaningful update in February 2018 on this topic.
Additionally, Syncordia would like to announce, subject to exchange approval, Telfer Hanson joining the board of directors of
the Company. Telfer brings 20 plus years of healthcare and software experience as an investment banker, with an extensive network
in Canada and the US. Telfer has also held recent executive positions at Agility Health and
Medic Holdings, as well as a current director at Nobul Corporation and past director of Rossiter Boats. Telfer will replace
Christopher Martin on the Board of Directors and in his capacity of Chief Strategy Officer. Chris
will remain as an active Advisor to the Company.
About Syncordia Technologies and Healthcare Solutions, Corp. dba Syncordia Software
Syncordia Software has a portfolio investment management approach to its growth by partnering with strong
companies with a focus on healthcare. We like to partner with well run businesses that have established free
cash flow and a strong propensity to growth with meaningful easy to use software and IT service solutions. We
are a software and information technology services company with a focus on healthcare. We are focused on using our proprietary
software suite as an accelerator for growth. Our growth strategy is to acquire healthcare oriented software and information
technology service companies with great teams and improve their profitability by increasing revenues and improving operating
efficiencies working with the local management teams. Syncordia will leverage proprietary software to manage scale, drive
better customer experiences and enhance margins while driving a competitive sustainable profile.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain statements herein may be "forward looking" statements that involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or achievements of Syncordia or the industry to be materially different
from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward looking
statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and
will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause
actual results to vary significantly from the results discussed in the forward looking statements. These forward looking
statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the
date hereof and we assume no obligation, except as required by law, to update any forward looking statements to reflect new
events or circumstances.
SOURCE Syncordia Technologies and Healthcare Solutions, Corp.
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