RENO, Nev., June 1, 2011 /PRNewswire/ -- Visual Healthcare Corp. (the "Company") (NASDAQ OTC: VSHC) announces that it
The Company has been seeking ways to derive additional revenues from its extensive portfolio of proprietary smart technology beyond its core health and science markets.
"Mobile entertainment will certainly benefit from the kind of smart automation that we have been using in complex drug management," says Chairman Gerard Dab. "It's about allowing users to use music and film libraries to find products that fit their taste and liking. For our company, this is a straight licensing deal in which we deliver technology at very little cost to us and will not distract from our core health and science automation business," concludes Mr. Dab.
The Company expects to book a first tranche of $2.5 of this $5.5 million agreement by the end of the year. "Supporting other industries with automation solutions and smart systems like ours will be significant source of revenues in the future," says Mr. Dab.
ABOUT VISUAL HEALTHCARE
Visual Healthcare Corp., since 1998, designs, creates and develops innovative information platforms, specifically conceived for the automation of a wide range of scientific disciplines. These include pharmaceutical research, clinical trials, laboratory automation, true quality assurance tools, total quality control applications. They also include quantitative analytic tools such as proprietary frameworks for electronic health records, electronic prescription, infection and disease control, and smart cancer registries. The Company's extensive portfolio of proprietary technologies is the result of a unique collaboration between senior clinicians from the McGill University Faculty of Medicine and affiliated tertiary care centers, medical software architects, and a Fortune 100 healthcare service company, investing some $50 million in the process. The Company licenses its technology to operating companies in exchange for an equity stake or a royalty stream. It owns significant stakes in various companies including VisualMED Clinical Solutions Corp. (NASDAQ OTC: VMCS), a leader in the field of electronic health records and intelligent medical applications.
For more information, please visit: www.visualhealthcarecorp.com.
FORWARD- LOOKING STATEMENTS
Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of the Company. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for the Company's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.
Gerard Dab, CEOVisual Healthcare Corp.514-582-5220
SOURCE Visual Healthcare Corp.
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