VitalHub Corp. Announces Appointment of Chairman of the Board

TORONTO, Nov. 09, 2023 (GLOBE NEWSWIRE) -- VitalHub Corp. (the "Company" or "VitalHub") (TSX:VHI) (OTCQX:VHIBF) is pleased to announce that Francis Shen has been appointed as the Chairman of the Board, succeeding Chris Schnarr who will be departing December 31, 2023.

Francis Shen serves as the President of Shen Capital Partners Inc., a specialized technology investment firm. Previously, he was the founder, Chairman, and Co-CEO of Aastra Technologies Ltd., a publicly traded enterprise communications business until its eventual sale to Mitel Networks Corporation in 2014. Through its 18 years as a publicly traded company, Aastra grew from $5 million to over $700 million of revenue. Its growth was driven primarily through an aggressive global acquisition strategy and operational execution. During its time as a public company Aastra raised $76 million and returned over $700 million to shareholders. Recognized as Ontario's Entrepreneur of the Year in Technology & Communications by Ernst & Young in 2000, Mr. Shen holds both a Master's and Bachelor's degree in Applied Science from the University of Toronto.

Dan Matlow, CEO of VitalHub, extends his deepest gratitude to departing Chairman Chris Schnarr for his invaluable insights and leadership. "Chris has played a pivotal role in elevating our company to a top-tier organization geared for strong and sustained growth. As we embark on a new chapter in VitalHub's journey, we are excited to welcome Francis into the enhanced role as Chairman. Our enduring partnership, which commenced in 2019, has demonstrated significant success, underscored by a strong alignment with our ongoing growth strategy. Francis's deep knowledge of the capital markets, a history of prosperous M&A endeavors, and success in scaling a successful technology business make him exceptionally well-suited for this role."

ABOUT VITALHUB

Software for Health and Human Services providers designed to simplify the user experience and optimize outcomes.

VitalHub Corp. (the "Company" or "VitalHub") provides technology to Health and Human Services providers including Hospitals, Regional Health Authorities, Mental Health, Long Term Care, Home Health, Community and Social Services. VitalHub solutions span the categories of Electronic Health Record (EHR), Case Management, Care Coordination & Optimization, and Patient Flow & Operational Visibility solutions.

The Company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing an aggressive merger and acquisition ("M&A") plan. Currently VitalHub serves more than 1,000 clients across Canada, USA, UK, Australia, the Middle East, and Europe.

VitalHub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The VitalHub team comprises more than 350 team members globally. The Company is publicly traded on the Toronto Stock Exchange (TSX) under the symbol "VHI" and on the OTC Markets OTCQX Exchange under the symbol "VHIBF".

CAUTIONARY STATEMENT

Certain statements contained in this news release may constitute "forward-looking information" or "financial outlook" within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or financial outlook. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

CONTACT INFORMATION

Dan Matlow
Chief Executive Officer, Director
(416) 727-9061
[email protected]