There's a huge market for VitalHub with huge potential in the long term care sector LTC to get their fair market shares with their VH LTC app. This is only one of there software product suite offerings they're also in the hospital flow patient sector along & the mental health sector for electronic health records. I will have more details later on the latter 2 which are growing rapidly with big contracts signed on like the Province of Nova Scotia valued at $9,000,000 CAD over 5 years along with some fundamental financials of the company but you can always start your due diligence.
https://vitalhub.com/investor-relations/
https://vitalhub.com/wp-content/uploads/VitalHub-Investor-Presentation-March-2019-v.4.pdf
https://web.tmxmoney.com/article.php?newsid=6109520095470885&qm_symbol=VHI
The need for their long term care VH LTC app is apparent along with their other product offerings, our Registered Nurses RN, Registered Practical Nurses RPN & other aid health care workers are getting totally burnt out being short of staff with all the cutbacks they had over the years making it that they're over extended with their workload.
My wife at 57 a recently retired RPN that worked 28 years at St-Vincent hospital in Ottawa plus 9 years at Bruyere hospital in the palliative care unit can an attest to that seeing co-workers running on an empty tank of gas, I'm sure many here that are working in that sector will say the same thing. She retired not because she didn't like taking care of her patients which was a passion & vocation for her she retired because she was getting close to a total burn out & what happens you're more prone to errors.
At the end of the day when you get a chance say thank you to our health care workers like you would to a soldier that went to the front lines risking his life for you they are taking care of us all.
VitalHub's VH LTC app offering will make the system more efficient for our workers in the long run since entering the patient's data is at there fingertips will be beneficial for our health care workers health wise by alleviating their workload, also it will reduce the costs of having staff taking a leave of absence which is an another expense on the provincial health care budgets with which those savings could be allocated for better health care services.
VitalHub being the developer of the VH LTC app software in the Ontario MaRS program in collaboration with Debbie Riepert at Trinity Village looks very promising. I spoke to her once she knows what she's doing, they have the product & definitely there is a need for it.
I listened to 2 of their webinars, the market is huge & the potential is there for VHI to get a good share of that market in Ontario. If they get in on a bigger scale in the Ontario market there is good chance that many other provinces will look at VHI & possibly follow Ontario's lead.
MaRS Ontarion program link:
https://www.marsdd.com/wp-content/uploads/2018/04/Trinity-Village-VitalHub-CaseStudy-April-2018.pdf
Time will tell but with all the Ontario changes in the health care & VHI attending many events with a foot already in the door it's possible we could see a ramp up in the coming quarters, here are a 5 contracts they have signed on for a total of 653 beds Trinity Village included, links below.
https://web.tmxmoney.com/article.php?newsid=7072466586384400&qm_symbol=VHI
https://web.tmxmoney.com/article.php?newsid=8306492631920126&qm_symbol=VHI
https://web.tmxmoney.com/article.php?newsid=7869055877152258&qm_symbol=VHI
There's a huge market with huge potential for VitalHub in the long term care sector LTC to get their fair market shares with their VH LTC app.
Just to give us an idea let's say at an average usage fee of $120 per bed per year which in my calculation it's a bit more than that, so lets go a bit more conservative at $120.
This is the most recent report I could find. The market in Ontario alone as of this May 2018 report there is 77,574 long-stay beds in the province not counting those that will be added in the coming years, just in Ontario the wait list for long-stay beds as of February 2018 was at 33,080, see page 4.
https://www.oltca.com/OLTCA/Documents/OLTCA_LTC101_May2018.pdf
https://www.oltca.com/oltca/OLTCA/Public/LongTermCare/FactsFigures.aspx
Let's say they get 20% of the current market of 77,574 beds in Ontario which equals 15,515 beds at $120 per bed per year which equals to $10 per month.
It's really inexpensive considering the case study of the Ontario government MaRS program that both VitalHub & Trinity Village developed in collaboration the VH LTC app, it will save time to the staff.
What will that do ?
The staff will have more time to provide our elders better health care services which could also mean having healthier people which might alleviate certain health problems which could mean cutting on certain medications that would be more savings on the provincial health care budgets.
Ontario potential revenues at 20% of the market of 77,574 beds:
15,515 beds x $120 per bed per year = $1,861,776 Ontario per year
Now lets look at Canada as per this Jan 31st 2018 report there is presently 263,000 long term care beds in Canada, now let's take out the Ontario market of 77,574 which would leave 185,426 let's say they get 15% of the balance available market shares across Canada equals 27,814 beds using the same metrics at $120 per bed per year.
https://www.demandaplan.ca/post/sizing-up-the-demand-for-long-term-care-in-canada
Balance of Canadian potential market plus Ontario:
27,814 beds x $120 per bed per year = $3,337,680 potential Canadian market
15,515 beds x $120 per bed per year = $1,861,776 potential Ontario market
$5,199,456 potential revenues per year
These are estimates only there are no guarantees they could get those above approximate revenues in the long term care sector as it could be more or less.
As always always do your own due diligence.
Best regards,
Ti-Butch
