QHR Technologies Inc.
TSX VENTURE : QHR

QHR Technologies Inc.

November 26, 2009 07:37 ET

QHR Announces $1,500,000 in New Contract Business

KELOWNA, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2009) - QHR Technologies Inc. ("QHR" or the "Company") (TSX VENTURE:QHR) is pleased to announce that the Company's Enterprise Management Software ("EMS") division has generated in excess of $1,500,000 in new business from existing and new healthcare clients. The majority of these new revenues will be recognized in fourth quarter of 2009.

"This positive growth continues to be encouraging," said Al Hildebrandt, President and CEO of QHR. "Our financial performance shows that our suite of workforce and financial software solutions from our EMS division provides comprehensive solutions that meet the needs of complex healthcare and social services environments. The cross selling opportunities between the financial and workforce software clients are growing as planned."

The Company's business model is built on annual recurring revenues based on long-term relationships with clients. With these latest contract signings, the Company's annual recurring revenues now exceed $7,250,000.

In addition, and as announced on November 9, 2009, QHR is underway with the acquisition of Clinicare Corporation for $5,000,000. Due diligence and business discussions with the corporation and its many shareholders are progressing as expected. An update on the progress of the acquisition will be announced on or about November 30, 2009, which is the expected closing date. 

About QHR

QHR operates two business units in two distinct markets:

The Enterprise Management Software ("EMS") division specializes in workforce management software and consists of integrated payroll, staff scheduling, employee self service and human resource software; and in customized financial management software built on the Microsoft Dynamics GP platform. These products are targeted at complex healthcare and social services environments.

The Electronic Medical Records ("EMR") division offers a suite of medical software modules that provides computer-based medical records for physicians, medical specialists and surgeons, as well as an electronic patient record that is a key component of the move throughout Canada to provide electronic health records for all Canadians. The EMR division provides on-site and off-site hosting capabilities.

On behalf of the Board of Directors

Al Hildebrandt, President and CEO

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 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 in future periods from those expressed or implied by such forward looking statements.

Further risk information on the Company is available at www.sedar.com

For a more complete business and financial profile of the Company, management encourages interested parties to visit the Company's website, www.QHRtechnologies.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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