Kelowna, BC, August 19, 2011 – QHR Technologies Inc. (“QHR” or the “Company”) (TSX-V: QHR) today announced that the Company, through its wholly owned subsidiary 2293035 Ontario Limited (“229”) has issued a Demand Notice to Healthscreen Solutions Inc. (“Healthscreen”) pursuant to the debentures under which Healthscreen is indebted to 229.
Under the terms of the demand, Healthscreen has 20 days to satisfy the obligations to 229. QHR is working with Healthscreen on strategic options in order to satisfy the obligation.
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 evaluating strategic options under which we may be unable to come to mutually agreeable terms. Additionally, enforcement under the debenture may not result in QHR realizing the full amount of the debenture. Factors that could delay or prevent these forward looking statements from coming to fruition include being unable to complete e 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. 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.
For further information, please contact:
Al Hildebrandt (250) 979-1701
John Gillberry (250) 979-1722