KELOWNA, BC, September 24, 2012 – (TSX-V: QHR) QHR Technologies Inc. (“QHR” or the “Company”) a leader in the Canadian Healthcare Information Technology sector, is pleased to announce that Mr. Gordon “Stonie” Glenn has been elected as QHR’s Chairman of the board effective September 21, 2012.
Mr. Glenn has 35 years of corporate management experience in healthcare, government information technology and transaction processing industries, including 20 years at the senior executive level. Mr. Glenn’s specific areas of expertise include strategic planning, organizational development, mergers, acquisitions and recapitalization as well as investor/analyst relations in both USA and Canada.
Mr. Glenn was President and Chief Executive Officer of Catamaran Corporation (formerly: SXC Health Solutions, Inc.) from 1998 to 2006 and then Chairman until his retirement in 2009. During this time, Catamaran Corporation’s market capitalization increased from $8M to over $800 million. Prior to Catamaran Corporation, from 1988 to 1996 Mr. Glenn was the President & CEO of Computer Data Systems an information technology firm with revenues of $250 million based in Maryland, USA. Mr. Glenn was first appointed to the QHR Board of Directors as of October 5, 2010.
QHR’s former Chairman, Dr. Wigmore, a retired family practice physician, has been actively involved with EMR systems development in Canada for many years, having been the founder and former Chairman of National Medical Solutions which was acquired by QHR in 2007. Dr. Wigmore was first elected to the QHR Board of Directors on July 21, 2008, and became Chairman on May 17, 2010, assisting the company with many of the operational aspects of the business.
Mr. Glenn stated, “I personally, and on behalf of the board want to thank Dr. Wigmore for his contribution as QHR’s Chairman during a time of tremendous growth and also for setting the stage for QHR’s growth during 2012 and beyond. We look forward to continue working together as a board along with management in directing the continued growth of QHR.”
Mr. Glenn also stated, “I have been involved with QHR for the past couple of years, and believe that the growth potential not only in Canada but also in the USA is significant. QHR has a strong foundation of product, people and a culture of customer services and has built a significant recurring revenue model, which gives the company a strong financial platform to continue its growth.”
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 and CEO
ABOUT QHR TECHNOLOGIES INC.
QHR operates two business units in distinct markets:
The Electronic Medical Records (“EMR”) division offers a suite of medical software modules that provides computer-based medical records for over 9,000 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 company also hosts many of these clients in its hosting facilities across Canada.
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.
Legal Notice Regarding Forward Looking Statements
This news release may contain “forward looking statements” within the meaning of applicable Canadian securities legislation. 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. Risks that may prevent or delay the forward looking statements from coming to fruition include that we may not offer products that are acceptable to industry regulators or customers; competitors may offer better or cheaper products; we may not be able to raise sufficient capital to improve products to remain competitive; changing regulatory requirements may prevent our products from being sold as expected; we may not be able to attract or retain key personnel; our technology may become obsolete; orders could be cancelled or delayed and market factors may increase our costs more than expected. QHR is a technology business development enterprise where investment and product enhancements must be carefully managed to achieve long-term revenue growth and profitability. It is our policy not to update forward looking statements except to the extent required under applicable securities laws. Further information on the Company is available at www.sedar.com or at the Company’s website, www.QHRtechnologies.com.
Neither 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.
For further information, please contact:
Al Hildebrandt, President & CEO
Jerry Diener, CFO