CINCINNATI, May 28 /PRNewswire-FirstCall/ -- Streamline Health Solutions, Inc. (Nasdaq: STRM) today announced that, consistent with its international expansion plans, the Company's document workflow solutions will be integrated into the electronic medical records solution for multiple facilities within an additional leading Canadian healthcare region.
Integrating Streamline's document workflow solutions will provide a consolidated view into a patient's complete history of care and allow physicians to electronically review and sign document-based clinical records.
Streamline Health has now secured two large international contracts for implementation of its solutions at a total of over 18 healthcare facilities. As a result, pending General Availability status for its multi-lingual product release, the company expects to recognize approximately $1.6 million in software licensing revenues plus additional implementation services in the Company's fourth fiscal quarter. In addition, the company expects its backlog will increase several million dollars as a result of anticipated installation and maintenance services fees over the term of the agreements.
"We are pleased to be working on these important international implementations through our valued business partner," said J. Brian Patsy, president and chief executive officer of Streamline Health. "This further validates our belief that key stakeholders understand the value of our solutions and the role they play in complementing electronic health records initiatives by managing the documents associated with clinical data. The ability of physicians to immediately access patient medical histories dramatically increases the potential for improved medical outcomes, enhanced quality of life for patients and reduced cost of care. This is clearly the direction that the global healthcare industry is heading, and we are dedicated to driving these types of results with all of our customers and distribution partners domestically and internationally."
About Streamline Health Solutions, Inc.
Streamline Health Solutions, Inc. (NASDAQ Capital Market: STRM) is a leading supplier of workflow and document management tools, applications and services that enable strategic business partners and healthcare organizations to improve operational efficiencies through business process optimization. The Company provides integrated technology solutions for automating document-intensive environments, including document workflow, document management, e-forms, connectivity, optical character recognition (OCR), and business process integration. Streamline Health's solutions create a permanent document-based repository of historical health information that is complementary and can be seamlessly integrated with existing disparate clinical, financial and administrative information systems, providing convenient electronic access to all forms of patient information from any location, including secure web-based access. For additional information, please visit www.streamlinehealth.net.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995
Statements made by Streamline Health Solutions, Inc. that are not historical facts are forward-looking statements that are subject to risks and uncertainties. The forward-looking statements contained herein are subject to certain risks, uncertainties and important factors that could cause actual results to differ materially from those reflected in the forward-looking statements, included herein. These risks and uncertainties include, but are not limited to, the timing of the closing of contracts and the timing of the subsequent revenue recognition related thereto, the impact of competitive products and pricing, product demand and market acceptance, new product development, key strategic alliances with vendors that resell the Company products, the ability of the Company to control costs, availability of products produced from third party vendors, the healthcare regulatory environment, healthcare information systems budgets, availability of healthcare information systems trained personnel for implementation of new systems, as well as maintenance of legacy systems, fluctuations in operating results and other risks detailed from time to time in the Streamline Health Solutions, Inc. filings with the U. S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly release the results of any revision to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Company Contact: Investor Contact:
Streamline Health Solutions Lytham Partners, LLC
Melissa Vincent Joe Diaz, Robert Blum, Joe Dorame
Marketing Communications (602) 889-9700
(513) 794-7100 STRM@lythampartners.com
Melissa.Vincent@streamlinehealth.net
SOURCE Streamline Health Solutions, Inc.
For further information: Melissa Vincent, Marketing Communications of Streamline Health Solutions, +1-513-794-7100, Melissa.Vincent@streamlinehealth.net; or Investors, Joe Diaz, Robert Blum, or Joe Dorame, all of Lytham Partners, LLC, +1-602-889-9700, STRM@lythampartners.com, all for Streamline Health Solutions
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