Vancouver, British Columbia / December 8, 2015 – H-Source Holdings Ltd. (CSE: HSI) (the “Company” or “H-Source”) is pleased to provide an update about the Company's recent developments.
H-Source commenced trading on the Canadian Securities Exchange on October 1, 2015, under the trading symbol “HSI”.
H-Source is a secured cloud-based marketplace for hospitals and ambulatory surgery centers (“ASCs”) to buy and sell excess inventory supplies and capital equipment with each other. Each year in the United States billions of dollars’ worth of new devices, pharmaceuticals and equipment pass the expiration date or are thrown away, resulting in significant waste entering landfills and decreasing hospital operational efficiencies and profit margins. At the same time, there is increasing pressure to reduce supply chain costs due to declining hospital operating margins.
The H-Source network provides hospitals and ASCs access to medical devices, pharmaceuticals, and capital equipment and members can easily perform transactions and save money using this solution. H-Source is led by a seasoned management team with a depth of experience operating within the United States hospital and surgical center network.
H-Source targets the following markets:
-More than 10,000 US hospitals and surgery centers; and
-More than 30,000 global hospitals and surgery centers.
Highlights of H-Source’s recent business developments:
-Currently there are more than 30 hospitals participating in the H-Source platform, including a 650-bed teaching hospital and a University medical center;
-Management anticipates that there will be more than 55 participating hospitals by the end of 2015;
-Currently there are approximately 3,000 items on the H-Source network for sale;
-H-Source became the preferred partner of the Washington State Hospital Association;
-H-Source became the preferred partner of the Georgia Hospital Association;
-H-Source became the preferred partner of the Northern California Hospital Association;
-H-Source became the preferred partner of the Southern California Hospital Association; and
-H-Source became a business member of Practice GreenHealth, a nonprofit membership organization founded on the principles of positive environmental stewardship and best practices for organizations in the healthcare community.
“We are excited to have the capital to aggressively pursue the market,” commented Mr. John Kupice, CEO and Director of H-Source. “We have a strong pipeline of medical facilities looking to reduce costs and waste in the hospital and medical supply chain and improve operating margins.”
About H-Source Holdings Inc. (HSI)
H-Source Holdings Ltd. is a technology company operating within the healthcare industry through its wholly owned subsidiary, H-Source, Inc. The Company has developed a transaction platform that provides a private, secure and trusted marketplace for member hospitals to buy, sell and transfer excess inventory supplies and capital equipment with each other. Member hospitals can conduct secure transactions within Integrated Delivery Networks, Group Purchasing Organizations, complete H-Source network or customize their own group hospitals using H-Source’s built-in filters. This network is specifically designed to reduce health care costs and medical product waste. For more information, please visit http://h-source.com/.
For further information, please contact:
John Kupice, CEO and Director
H-Source Holdings Ltd.
Sequoia Partners Inc.
CAUTIONARY DISCLAIMER STATEMENT: The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
This news release contains forward-looking statements relating to the completion of the listing of the Company’s shares on the Canadian Securities Exchange and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the Canadian Securities Exchange and other risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
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