Oct 19 2010
Medworxx Solutions Inc (the "Company")(TSX VENTURE:MWX) announced today that it has issued an update to its strategy roadmap, highlighting new opportunities in the Patient Flow area internationally. This update is available on the Company website at www.medworxx.com for public review.
Highlights of the Company's updated strategy include:
- Compliance and Education continues to be a solid business for the Company with success in Canada and successful expansion into the US market. The Company has over 100 customers representing more than 200 hospitals using their Compliance and Education products in North America. Continued growth in both Canada and the US is expected.
- The Company's Patient Flow platform has historically been sold only in Canada. The Company now feels there is opportunity to expand internationally.
- After less than four years of marketing the Patient Flow product in Canada, Medworxx has:
- Over 20% of the beds in Canada using the Patient Flow platform
- Over 100 hospitals using the Patient Flow platform
- Completed several large regional and provincial rollouts
- Data to support effective use of the solution providing a compelling Return on Investment to hospitals
- Expanded the Patient Flow platform from the initial Utilization Management System to also include a bed board and independent assessment platform
- Market research that supports the uniqueness of the Company's offering and market opportunity on a global basis.
The Company has developed an international distribution strategy that it believes will allow it to build upon the success it has already achieved in Canada. The foundation of the distribution strategy is involving management consultants in the local geographies to conduct audits of bed use in hospitals to introduce the Medworxx Patient Flow platform and the results it can deliver. This has begun in the UK market through the partnership with ModelAdvice DC Consulting Ltd UK (announced August 10, 2010).
"We are extremely excited about the opportunity to build upon the success we have had with our Patient Flow Platform in Canada," said Dan Matlow, President and CEO, Medworxx. "The results that we have seen from our customers, combined with the market opportunity for this unique product suite, should provide positive growth for our Company, and thus our shareholders."