TORONTO, Nov. 17, 2021 (GLOBE NEWSWIRE) — VitalHub Corp. (the “Company” or “VitalHub”) (TSX: VHI) is pleased to announce the Company has ranked 20 among Canada’s fastest growing technology companies with the highest revenue-growth percentage over the past four years on the 2021 Deloitte Technology Fast 50™. VitalHub earned 1,103% in revenue growth from 2017 to 2020. Vitalhub is also presented with the program award for its rapid revenue growth, entrepreneurial spirit and bold innovation with the 2021 Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 27th year. The VitalHub healthcare technology company grew 1,064% during this period.
The Deloitte Technology Fast 50 program winners consist of public and private companies in the technology sector, which have transformed the industry. Now in its 24th year, the program runs alongside the broader Deloitte North American Technology Fast 500™, with winners automatically eligible for this elite ranking.
VitalHub’s president and chief executive officer, Dan Matlow, credits the Company’s growth with its ability to meet the transformative digital needs of healthcare providers around the world. Matlow said, “We appreciate the growing recognition of VitalHub as a leader in healthcare technology, both nationally and abroad. Being once again included on this list of the 500 fastest-growing companies in North America and to be included among an impressive list of Canadian companies on the Fast 50 is very affirming. We would like to acknowledge and thank our customers, our employees, and our investors — for their dedication and continued support as we work together to achieve this. We are excited to see that our strategy has produced positive results and we look forward to continuing to execute on our plan of being a global mission critical solutions leader for the health and human services sectors.”
To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least four years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, conduct research and development activities in Canada and invest a minimum of five percent of gross revenues in R&D.
“As we rise above another year of uncertainty, we are exceptionally proud to announce this year’s Fast 50 winners,” stated Anders McKenzie, partner and national leader for the Technology Fast 50 program at Deloitte Canada. “These innovative trailblazers have demonstrated resilience, true commitment to innovation, adaptability, and business leadership as we cope with an ever-changing new normal. The Fast 50 companies act as catalysts, driving growth of Canadian business.”
“Each year the Technology Fast 500 shines a light on leading innovators in technology and this year is no exception,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. “In the face of innumerable challenges resulting from the pandemic, the best and brightest were able to pivot, reinvent and transform and grow. We celebrate the winning organizations and especially the talented employees driving their success.”
“The pandemic has underscored the urgent need for tech solutions in a variety of areas across health care, fintech, energy tech, entertainment, to name a few, so reliance on innovators like the winners of the Technology Fast 500 is more important than ever,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit & assurance practice. “These companies are not only at the cutting edge, transforming the way we do business, but most importantly, recognize the strategic importance of ongoing innovation, especially in the ever-changing world of technology.”
ABOUT 2021 DELOITTE TECHNOLOGY FAST 50™
The Deloitte Technology Fast 50 program is Canada’s pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features distinct categories, including the Technology Fast 50 ranking, Enterprise Fast 15, and Companies-to-Watch. The program also recognizes companies within the North American Technology Fast 500 ranking, identifying technology companies in the United States and Canada. The 2020 program sponsors include Deloitte, RBC, CBRE, Clarity Recruitment, and Lafond. For further information, visit www.fast50.ca.
ABOUT THE 2021 DELOITTE TECHNOLOGY FAST 500™
Now in its 27th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2017 to 2020.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.
Software for Health and Human Services providers designed to simplify the user experience & optimize outcomes.
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, Patient Flow & Operational Visibility, and DOCit Mobile Apps.
The Company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing an aggressive M&A plan. Currently, VitalHub serves 400 clients across Canada, USA, UK, Australia, Qatar, and Latvia. VitalHub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The Company is publicly traded on the TSX under the symbol “VHI”.
This press release includes forward-looking statements regarding the Corporation and its business, which may include, but is not limited to, statements with respect to the appointment of a new directors. 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. The forward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the technology industry, failure to obtain regulatory or shareholder approvals, market conditions, economic factors, the equity markets generally and risks associated with growth and competition. Although the Corporation 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 Corporation undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Chief Executive Officer, Director
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