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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  H-Source Holdings Ltd    HSCHF   CA40434X1096


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H SOURCE HLD : Source Announces Increasing Transaction Volume and Corporate Update

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07/06/2017 | 06:31pm EDT

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 6, 2017) - H-Source Holdings Ltd. (TSX VENTURE:HSI)(OTCQB:HSCHF) (the "Company" or "H-Source") is pleased to announce that during the quarter over 500 medical facilities are now contracted for the platfrom resulting in increased transaction volume.

"We set strong objectives for fiscal 2017 including, increasing our network by adding hospitals and medical facilities, montetizeing the H-Source platform, strengthening our technology enhancements, and supporting greater supply chain cost recovery and savings. We have made progress in the first half of the year and will continue to execute our growth plan by adding a diverse array of medical facilities to the platform, strengthen inventory offerings and increase transaction volumes. Transactions that started in the second quarter will continue to grow moving forward. Additionally, we are now able to leverage and expand the H-Source Platform in new ways that will become more evident in upcoming quarters," said John Kupice, CEO and director of H-Source.

Key milestones and for the first half of fiscal 2017 include:

  • We are experiencing repeated participation from member facilities and continue to add functionality and services that drive increased adoption.
  • Our platform includes over 300 medical facilities, that are now onboarded, our number of mature and transacting facilities continues to grow as we add new customers and implement our account management program. Our expanded platform functionality and support resulted in higher customer interaction that resulted in increased network inventory and liquidity. Customer use is a key metric that has showed steady uptick quarter over quarter.
  • We continue to add functionality and scalability to the H-Source Platform at a measured pace to ensure our offering is enhanced and the customer experience remains exceptional. Specifically, we expanded our ability beyond managing idle inventory for hospitals and are now targeting a broader portion of the medical supply chain for a variety of medical facilities. We are in discussions or implementation phase with multiple new customers, including large Hosptital IDNs (Integrated Delivery Networks) and State hospital associations. This expanded offering provides potential licensing revenue and increased transactions.
  • Our previsouly announced partnership with BidMed has been a success and provides a unique solution and value to our customers which includes sourcing capital equipment, capital asset valuation, tracking, and liquidation services. We are looking forward to the upcoming quarters as we continue to grow our joint service offerings.

About H-Source Holdings Ltd.

H-Source Holdings Ltd. is a technology company operating within the healthcare industry through its wholly owned subsidiary, H-Source, Inc. The Company has developed a transaction platform that provides a private, secure and trusted marketplace for member hospitals to buy, sell and transfer devices, pharmacuiticals, capital equipment and supplies with each other. Member hospitals can conduct secure transactions within Integrated Delivery Networks, complete H-Source network or customize their own group hospitals using H-Source's built-in filters. This marketplace network is specifically designed to reduce health care costs and medical product waste. For more information, please visit http://h-source.com/.

On behalf of the board of directors of H-Source Holdings Ltd.

John Kupice, CEO & Director

CAUTIONARY DISCLAIMER STATEMENT: The TSXV has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

This news release contains forward-looking statements relating to the completion of the listing of the Company's shares on the TSXV and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the TSXV and other risks detailed from time to time in the filings made by the Company with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

© Marketwired 2017
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John Kupice Chief Executive Officer & Director
Jim Murray Walden President & Director
Nicole Altenburg Chief Financial Officer & Secretary
Ronald P. Overstreet Independent Director
Savio Chiu Independent Director
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