QHR Technologies Inc.
TSX VENTURE : QHR

QHR Technologies Inc.

November 07, 2007 15:42 ET

QHR Announces $550,000 of New Contract Business

KELOWNA, BRITISH COLUMBIA--(Marketwire - Nov. 7, 2007) - QHR Technologies Inc. (TSX VENTURE:QHR) Mr. Al Hildebrandt, President and CEO of the Company, is pleased to report that the Company's wholly owned subsidiary, QHR Software Inc. has recently received new contract business from new and existing healthcare clients in excess of $550,000.

These new contracts combined with a backlog of approximately $2,000,000; annual recurring customer revenue from our EMR technologies; and annual services revenue from QHR Software Inc. currently has the Company on target to meet its budget expectations for 2007.

QHR has built good momentum with its technology products and has been running profitably since the third quarter of 2006. Over the last four quarters, the Company has recorded earnings of $282,297 or $0.015 per share.

The backbone of the Company's business model is annually recurring revenue from clients that provides a reliable source of capital each year for the operations of the Company. The combination of annual recurring revenue from HR software and Electronic Medical Records software now exceeds $3,500,000 annually. This is a strong financial foundation from which to build a growing and prospering organization.

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

Legal Notice Regarding Forward Looking Statements

This news release contains "forward looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are indicated expectations or intentions. Forward-looking statements included in this news release include that the Company is on target to meet its annual budget expectations and that support revenue provides a reliable annual source of capital for the operations of the Company although it may not be adequate enough to eliminate the potential need to raise additional new equity capital should business levels in 2007 not actually reach budgeted requirements. These statements are subject to risks that may cause the actual results to be materially different from those expressed or implied by such forward looking statements. Further risk information on the Company is available at www.sedar.com.

On behalf of the Board of Directors

Al Hildebrandt, President & Chief Executive Officer

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

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