Vitalhub (VHI.T), a Canadian-based company focused on developing mission-critical technology solutions for Health and Human Service providers, announced today that it had entered into a multi year licensing agreement of subsidiary Intouch With Health’s, at-home preop solutions, Synopsis Home and Synopsis iQ, to NHS Highlands.
The award-winning Synopsis Platform gives hospitals the ability to manage the entire pre-operative assessment, from initial questionnaire through to post-operative outcomes digitally. This removes any paper trail while increasing data security and significantly improving organizational processes at a discount to traditional methods.
Geographically, NHS Highlands is Scotland’s largest Health Board, providing prehospital care, primary and secondary care services in an area covering 32,500 square kilometres and a population of 320,000 people.
With Synopsis, fewer patients will need to physically attend at the hospital for pre-operative assessments which will optimize patient throughput while freeing up staff resources and clinical time.
The platform will also cut down on post-surgery re-admissions while promoting improved patient convenience and accessibility to care.
As a result of the technological upgrade, NHS Highlands will be able improve their elective care backlog by enabling departments to cope with booking and managing additional surgeries required to clear their backlog.
Synopsis will be employed by the Raigmore Hospital which covers the majority of medical and surgical specialities and is the cancer treatment centre for the Highlands and Western Isles. The facility currently runs at a capacity of 454 beds.
The global healthcare management solutions market was estimated at $31.62 billion USD in 2021 and is expected to grow to $98.80 billion by 2030 at a CAGR of 13.5%. Clinical practice management applications make up 20% of this segment.
The covid 19 pandemic brought healthcare operational management to the forefront as hospitals dealt with increased patient surges, compounded by natural disasters such as wildfires and hurricanes.
Companies like Vitalhub are working to provide hospitals the necessary flexibility to deliver care in resource-constrained circumstances without sacrificing quality of care.
Earlier this month, Vitalhub announced it had signed a multi-year contract of subsidiary Transforming System’s SHREWD Platform and SHREWD Resilience offerings to Buckinghamshire, Oxfordshire and Berkshire Integrated Care System (BOB ICS).
SHREWD Resilience is expected to enable the whole health and social care system within a defined area to access real-time data and display it in a simple-to-understand format that can visually identify areas of pressure quickly.
BOB ICS services a population of 1.8 million containing three clinical commissioning groups, six NHS trusts, 14 local authorities and 166 GP practices working together as 45 primary care networks.
Dan Matlow, Vitalhub CEO, commented on the Synopsis licensing deal, “We are delighted to further increase our presence across Scotland as we partner with NHS Highlands. We appreciate the ongoing market ratification and demonstration of our leadership across patient flow and operational visibility solutions. We look forward to continuing to support our customers as we scale across the UK and beyond, helping health systems accommodate their growing demands and needs.”
Vitalhub currently trades at $2.70 CAD per share for a market cap of $117.37 million.
–Gaalen Engen