KELOWNA, BC, June 1, 2015 – (TSX-V: QHR) QHR Corporation (“QHR” or the “Company”), a leader in the Canadian Healthcare Information Technology sector, announces that it has granted an aggregate 1,050,000 stock options to various management and employees of the Company. Of this total, an aggregate of 450,000 stock options were granted to two executive officers and the balance of 600,000 stock options were granted to an aggregate of 52 employees. The last time stock options were granted to employees was July 2013. Each option entitles the holder to purchase one common share of the Company at an exercise price of $1.46 after vesting and before expiration on May 28, 2020, subject to the terms of the Company’s Stock Option Plan and a stock option agreement on its standard form. The options will vest over a two year period in equal quarterly installments. In lieu of stock options, and to preserve the availability of the stock option pool for the leadership team of QHR in the future, the Company made a cash payment, to recognize services rendered during 2014 and 2015, to each of its seven directors in the amount of $25,000.
As QHR has previously disclosed, a majority of its seven directors are not standing for re-election at the Company’s annual meeting scheduled for June 17, 2015. In an effort to provide for a smooth transition, QHR has entered into consulting agreements with Ernie Wigmore and Jim Mutter pursuant to which these gentlemen have agreed to make themselves available to the new board and senior management on an as needed basis until May 30, 2016.
On behalf of the Board of Directors
Al Hildebrandt, CEO
About QHR Corporation
QHR is a leader in Healthcare Technology, empowering providers and connecting patients. With an 11-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 the Company’s growth. The Company’s technologies and services enable secure medical records management for clinical environments, empower health providers with tools for virtual care including secure video and messaging, and 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.
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For further information, please contact:
Jerry Diener, CFO & VP Finance
Mike Checkley, President