Quture (QUTR) Announces Sale of First Application of QualOptima Product
06 June 2013 - 3:00PM
Marketwired
Quture International, Inc. (OTCQB: QUTR)
announced today a sale of the first application of the QualOptima
product to Springhill Medical Center (SMC), Springhill, LA. The new
license to QualOptima transitions SMC's former peer review product
by Quture to performance measurement as the initial application of
the QualOptima Analytics & Connectivity System on the
InterSystems platform. The QualOptima System is the complete
solution for "transformative and disruptive" technology to enhance
clinical performance and achieve optimal patient outcomes. Quture
announced on May 9, 2013 target marketing of QualOptima in June for
commercial sales and installations. Quture is installing the
QualOptima product and combined products of New Health Analytics,
Richmond, VA. This sale demonstrates customer satisfaction to not
only renew Quture's former product, but to replace it with the
enhanced peer review tools to accomplish the requirements of
clinical performance and outcomes measurement with the new
QualOptima product. The user advantages have now been proven to a
long-established customer of Quture for the commercialization of
the QualOptima Analytics and Connectivity System. Consistent with
healthcare software market practices, the details of the sale were
not disclosed.
Quture is leveraging its first mover position to transition from
peer review to clinical performance and outcomes measurement in the
healthcare analytics market. The return on investment (ROI)
calculations for QualOptima justify potential sales to over 5,000
U.S. hospitals at a median price point for a total market potential
of more than $750 million per year. The market potential was
originally estimated in excess of $500 million in the United States
alone. The healthcare analytics market is growing at 27% per year
and is predicted to be $10.8 billion in 2015, so the market
significantly exceeds this original projection. Quture continues to
evaluate market penetration potentials, which the Company believes
to be unlimited, in an increasingly competitive market. QualOptima,
as a cloud application, strengthens Quture's first mover position
in the healthcare market as previously announced.
The new QualOptima Analytics & Connectivity System installs
Quture's Application Partnership with InterSystems tools: the
Ensemble interface engine, Cache object-oriented database, DeepSee
data display and Zen report writer, now strengthened by Active
Analytics. SMC will be empowered by these InterSystems tools for
dashboards, visual analytics and enhanced reports, as well as the
advanced technology to capture data from disparate databases in a
superior database. Natural language processing (NLP) tools of
InterSystems iKnow and other Quture NLP proprietary licenses
further develop the new application as the complete solution for
actionable insight to improve care while reducing costs. The sale
further advances joint marketing and sales with the combined
products of New Health Analytics (NHA), as announced on April 16,
2013. The installation demonstrates the advantages of combining
Quture's clinical performance and outcomes analytics with NHA
analytics from administrate data and state data sets. Capturing
data electronically to reduce FTE manual processes, new search and
data capture tools, and Quture's extensive experience, expertise
and metrics to measure clinical performance are essential for the
regulatory and compliance demands for the emerging hospital and
physician groups market.
"The core competence of Quture to measure and analyze clinical
performance using extensive clinical metrics developed for more
than 37 years is embedded in this QualOptima application," said
Landon Feazell, CEO of Quture International. "We are excited that
our existing customers are already transitioning to the new
QualOptima product at time of license renewal. The potential for
market recognition through statewide initiatives, such as those in
Louisiana, are extremely promising and create dramatic
opportunities for sales and market penetration. The QualOptima
system solves compliance challenges while implementing true
enterprise management beyond business intelligence to empower
clinical performance enhancement to achieve optimal patient
outcomes."
ABOUT QUTURE INTERNATIONAL, INC.
(www.quture.com)
Quture International, Inc. (QUTR) is the
proven and experienced performance and outcomes analytics company
in the United States. The vision of Quture is to connect all
constituents in the global health and health care community to
clinically and financially focused and sound data transformed
through analytics to knowledge that empowers
data-driven decisions for results-driven success. As a
"Breakthrough" Application Partner of InterSystems Corporation,
Quture's technology for capturing, integrating and aggregating data
on the InterSystems Enterprise platform is unequalled. The
Company's unique product QualOptima develops a second generation
CLINICAL database implementing Quture's core competence of clinical
content with evidence-based metrics developed for more than 35
years. QualOptima empowers clinical performance enhancement to
achieve optimal patient outcomes. Quture's brand is centered on the
value proposition of trust, transparency and independence. As the
free enterprise solution to improving health and healthcare while
reducing costs, Quture is positioned to become the leading clinical
knowledge company in the world. Quture International is a Nevada
corporation trading under the symbol QUTR.
ABOUT SPRINGHILL MEDICAL CENTER, SPRINGHILL,
LA (www.smccare.com)
Springhill Medical Center is a 58 bed facility offering
Medical/Surgical, Geriatric Psychiatric, ICU, and ER services. In
addition Springhill Medical Center offers full service Lab, X-Ray,
Physical Therapy and Respiratory departments. Two Rural Health
Clinics are home to 10 full-time healthcare providers and various
other specialty providers that come on a regular basis. The medical
center serves a large area of northwest Louisiana and parts of
Arkansas. SMC's mission is "Patient Centered Care From Our Family
To Yours." SMC's vision is "To be every patient's fist choice for
healthcare excellence. We will adapt and expand services to create
healthier communities."
This release contains forward-looking statements, including,
without limitation, statements concerning our business and possible
or assumed future results of operations. Our actual results could
differ materially from those anticipated in the forward-looking
statements for many reasons including: our ability to continue as a
going concern, adverse economic changes affecting markets we serve;
competition in our markets and industry segments; our timing and
the profitability of entering new markets; greater than expected
costs, customer acceptance of our products or difficulties related
to our integration of the businesses we may acquire; and other
risks and uncertainties as may be detailed from time to time in our
public announcements and SEC filings. Although we believe the
expectations reflected in the forward-looking statements are
reasonable, they relate only to events as of the date on which the
statements are made, and our future results, levels of activity,
performance or achievements may not meet these expectations. We do
not intend to update any of the forward-looking statements after
the date of this document to conform these statements to actual
results or to changes in our expectations, except as required by
law. There is no assurance that a definitive agreement will be
completed.
Contact: Mele Telitz Director of Communications
855.740.QUTR (7878) mele@quture.com For Further Information
Contact: Infinity Advisors Mark Kroeger +1 (239) 495-6125