MONTREAL, QUEBEC–(Marketwired – May 17, 2017) – TECSYS Inc. (TSX:TCS), an industry-leading supply chain management software company, is pleased to announce that in the fourth quarter 2017, ending April 30 2017, the Company has signed two U.S. health systems for its Consolidated Service Center solutions (CSC). The Company has also started a pilot project in Europe for its Point of Use solutions. Both solutions are proven to help better manage costs, increase productivity and lead to better clinical outcomes.
“The two U.S. health systems signed during the quarter are among the leading health systems in the U.S. and we are excited to help them offer better quality of care, while adopting supply chain best practices to improve their financial performance,” said Mr. Peter Brereton, President and CEO of TECSYS Inc. “While the U.S. health systems market continues to be slow due to changing legislation and somewhat distracted, we are pleased to see some resumption of activity.”
The first health system is composed of over 40 hospitals with over 8,200 beds and serves more than five million patients annually. The health system has grown to more than 80,000 employees in nine states: Florida, Illinois, Colorado, Wisconsin, Texas, Georgia, Kentucky, North Carolina and Kansas.
The second health system has locations in Pennsylvania and New Jersey throughout its 12 hospital campuses. Despite reimbursement reductions being experienced throughout the healthcare industry, the organization has served more than three million patients and grown revenue in 2016.
“It is exciting to see that we are attracting a lot of interest from European health systems and they have very similar challenges to the U.S. market. We are still at the beginning of what looks like a very promising market opportunity,” added Mr. Brereton.
About TECSYS
TECSYS provides transformative supply chain solutions that equip our customers to succeed in a rapidly-changing omni-channel world. TECSYS solutions are built on a true enterprise supply chain platform, and include warehouse management, distribution and transportation management, as well as complete financial management and analytics. Customers running on TECSYS’ Supply Chain Platform are confident knowing they can execute, day in and day out, regardless of business fluctuations or changes in technology, they can adapt and scale to any business needs or size, and they can expand and collaborate with customers, suppliers and partners as one borderless enterprise. From demand planning to demand fulfillment, TECSYS puts power into the hands of both front line workers and back office planners, and unshackles business leaders so they can see and manage their supply chains like never before.
TECSYS is the market leader in supply chain solutions for health systems and hospitals. Over 600 mid-size and Fortune 1000 customers trust their supply chains to TECSYS in the healthcare, service parts, third-party logistics, and general wholesale high-volume distribution industries. TECSYS’ shares are listed on the Toronto Stock Exchange under the ticker symbol TCS.
The statements in this news release relating to matters that are not historical fact are forward looking statements that are based on management’s beliefs and assumptions. Such statements are not guarantees of future performance and are subject to a number of uncertainties, including but not limited to future economic conditions, the markets that TECSYS Inc. serves, the actions of competitors, major new technological trends, and other factors beyond the control of TECSYS Inc., which could cause actual results to differ materially from such statements. More information about the risks and uncertainties associated with TECSYS Inc.’s business can be found in the MD&A section of the Company’s annual report and annual information form for the fiscal year ended April 30th, 2016. These documents have been filed with the Canadian securities commissions and are available on our website (www.tecsys.com) and on SEDAR (www.sedar.com).
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