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HealthSpace Announce Intent To Convert To HSCloud Suite by Fraser Health, BC Totalling US$1,013,668 and Go-Live of Vancouver Island Health Authority

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VANCOUVER, BC, Nov. 19, 2021 /CNW/ - HealthSpace Data Systems Ltd. (the "Company" or "HealthSpace") (CSE: HS) (Frankfurt: 38H) (OTC: HDSLF) is pleased to announce that it has reached agreement with the Fraser Health Authority ("Fraser Health") on their intent, and the process and structure, to convert to HSCloud Suite.

HealthSpace Data Systems Ltd. Logo (CNW Group/HealthSpace Data) (CNW Group/HealthSpace Data)
HealthSpace Data Systems Ltd. Logo (CNW Group/HealthSpace Data) (CNW Group/HealthSpace Data)

There are two contractual transactions as part of this process.

  • The Company has executed a one year renewal contract on its legacy platform in the amount of US$121,555

  • Fraser Health is going through the process of approval to execute an agreement in Q1 of 2022 for HSCloud Suite in the amount of US$892,113. The average annual revenue for 5 years on the second agreement will be US$164,423.

  • The total aggregate value of both agreements is US$1,013,668

  • Under this structure, Fraser Health will be converted to HSCloud Suite by December 31st of 2022.

The Company is further pleased to announce that the Vancouver Island Health Authority (VIHA) completed their implementation phase and went live this week on HSCloud Suite.

HealthSpace CEO, Silas Garrison noted "I am delighted to announce both of these items. Fraser Health Authority represents one of our longest standing customers, and has been a great partner to HealthSpace over many years. It is also very gratifying for VIHA - another long time customer - to be going live. This was a very complex conversion, and the agency will get tremendous value in the coming years from the power of HSCloud Suite. The loyalty of our long time customers is gratifying, and speaks to the level of service that our team provides to all of our customers each and every day. It also speaks to the power and continued innovation our platform provides to customers across a broad range of use cases who often have ever growing and complex needs. I am grateful to our team who worked tirelessly on behalf of VIHA during this conversion and to the department themselves, who worked alongside our team to collaborate on such a large system conversion."

HealthSpace Data Systems Ltd.

HealthSpace Data Systems Ltd. HealthSpace is an industry leading software as a service company serving the state, provincial and local government market across the United States and Canada. HealthSpace's cutting edge platforms currently provide inspection, information, communication and data management systems that enable government agencies to operate more efficiently. HealthSpace's cloud and mobile based platforms are currently deployed in over 600 state and local government organizations across North America. HealthSpace currently offers the only fully integrated inspection, administration and analytics product suite across all platforms in North America. HealthSpace also delivers its government grade technologies to private businesses through its My Health Department platform, enabling citizens and private businesses to gain visibility and predictability into their own organizations and move from a reactive to a proactive operational status. As HealthSpace continues to deliver focused service and innovative solutions to government organizations, the Company entered the FinTech space through its HSPay offering which serves as a payment platform that streamlines the intake of government revenue. Further, HealthSpace's GovCall platform offers one of the only teleconferencing and video collaboration platforms tailored exclusively for government agencies.

Forward-Looking Statements

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although HealthSpace believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. HealthSpace expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

SOURCE HealthSpace Data


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