eResearch

eResearch

December 17, 2009 09:22 ET

eResearch Issues Initiating Report on QHR Technologies Inc.

TORONTO, ONTARIO--(Marketwire - Dec. 17, 2009) - QHR Technologies Inc. (TSX VENTURE:QHR) is a Kelowna, BC-based producer, marketer, and servicer of business software for the healthcare and social services markets. Its operations are conducted through two divisions: (1) the Enterprise Management Software (EMS) division, which specializes in workforce management software and financial management software targeted at medium-to-large healthcare and social services organizations; and (2) the Electronic Medical Records (EMR) division, which provides software for use in physicians' offices. In 2008, the EMS division provided about 66% of revenues, and the EMR division the remaining 34%.

QHR is a leading provider of proprietary workforce management and financial management software for the Canadian healthcare industry. The Company operates in all Canadian provinces except Quebec, and intends to enter the U.S. market soon. With the recent acquisition of Clinicare Corporation, the Company's EMR division is expected to be the largest supplier of electronic medical records systems to Canadian doctors. QHR enjoys a high level of customer satisfaction, with a retention rate of at least 95% for both its divisions. Recent acquisitions in both the EMS and EMR divisions should lead to strong gains in revenue and earnings over the next few years.

Currently selling at $0.60 per share, we have a 12-month Target Price of $1.60. We recommend QHR Technologies as a Speculative Buy for risk-tolerant investors.

This Press Release was prepared by eResearch and was not vetted by QHR Technologies Inc. Further, the Recommendation and Target Prices contained in this Press Release and in the Initiating Report are strictly those of eResearch and, due to securities laws, are not endorsed by QHR Technologies Inc.

eResearch is a primary source for professional investment research, focused primarily on small- and mid-cap companies. Our research and analysis is of institutional quality, and has the potential of reaching millions of global investors through our extensive electronic distribution network.

QHR Technologies Inc. paid eResearch a fee to conduct research on the Company, on an Annual Continuous Coverage basis.

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Contact Information

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    Bob Weir
    CFA, Managing Director, Research Services
    (416) 643-7650 Ext 1
    bweir@eresearch.ca