VANCOUVER, British Columbia, July 11, 2018 (GLOBE NEWSWIRE) -- RXB Healthcare Technologies Ltd. (the "Company" or "RXB Healthcare") is pleased to announce that it has entered into an agreement to acquire SPR Global Technologies Ltd. which will be maintained and operated as a wholly-owned subsidiary.
SPR Global Technologies is a EU-based tech firm. Under RXB Healthcare, SPR will continue to develop, market, and integrate its products in the European market place. This strategy will begin with a collaboration with a venerable surgical healthcare center in Dublin, Ireland that’s been in operation for more than 30 years, to test and deploy the Single Patient Record App.
“We are very excited to be part of this exclusive club of healthcare innovators whom endeavor to marry patient experience with advanced technology to provide a better, safer and more efficient user experience for both care givers and patients,” stated Peter O’Brien, COO & Co-Founder of SPR Global.
“Entering the European healthcare market is the next paramount step for RXB,” stated Evan M. Levine, CEO of RXB Healthcare. “We believe that SPR offers us the best and most expedient opportunity to accomplish this."
EU and Global EHR Market Facts
In 2014, the European electronic health records (EHR) market earned $2.74 billion. This market is expected to grow and reach $3.69 billion by 2020.1
The European Commission has indicated that it wants to boost the digital economy by enabling all Europeans to have access to online medical records anywhere in Europe by 2020 by enabling citizens' secure, cross-border access to their electronic health records and the possibility of sharing their records across borders; and by providing digital tools that enable citizens to manage their health more actively within integrated care systems.
The EU’s goals are reasonably based, with a surge of global adoption of personal health records (PHRs) currently underway. Researchers have forecasted that adoption of PHRs will increase to the point where 75% of adults will use a PHR by 2020.
Dual-Market, Dual App Strategy: USA and EU
Based on extensive research, the RXB Healthcare team has concluded that it was prudent not to deploy a PHR app built for US markets in Europe. Acquiring SPR gives RXB Healthcare an established platform. Healthcare interoperability varies by region, leading RXB to focus on a dual-market, dual-app strategy, however both will fit under a single business strategy. One crossover will be that all data collected by established SPR applications will be stored on the RXB Data MainframeTM, and subject to appropriate European compliance and data protection regulations.
In the US, the Health Information Technology for Economic and Clinical Health (HITECH) Act was signed into law in 2009. Its implementation was to promote the adoption and meaningful use of health information technology.
Other constraints within the US market include integration requirements with regards to EMRs, EHRs, HIEs as well as privacy and security constraints through compliance with the Health Insurance Portability and Accountability Act (HIPAA) of 1996.
“Going forward, RXB Healthcare will proceed with two different apps for two different continental market strategies, all under one underlying personal health record business strategy,” stated James Brooks, President and Chief Operating Officer of RXB Healthcare. “Our core proprietary technology, the RXB Data Mainframe, will continue to be central to our operations, now further bolstered with the data from our newly acquired SPR platforms.”
ON BEHALF OF THE BOARD, RXB HEALTHCARE TECHNOLOGIES LTD.
Evan M. Levine, CEO
For further information, please visit the Company’s website at: www.rxbhealthcare.com
For inquiries, please contact RXB Healthcare at:
Toll Free: 1-800-337-2571
Email: info@rxbhealthcare.com
Web: www.rxbhealthcare.com
About RXB Healthcare Technologies Ltd.
RXB Healthcare Technologies, LTD. is developing and acquiring next generation personal healthcare technology solutions driven by personal health data.
The Company’s core proprietary technology is the RXB Data Mainframe™, a secure distributed clinical data repository, anonymously connecting members and their personal health records with clinical trials and their healthcare providers. Secured on our private blockchain, users can own, share and track their data, set goals and manage their health, analyze and even monetize their data all through an RXB provided web and mobile Personal Health (PHR) App.
The RXB Data Mainframe™ will include built-in machine learning (AI) functions, which over time will recognize patterns from each user’s personalized data and offer preventative care solutions.
About SPR Global Technologies Ltd.
SPR Global Technologies is an Ireland-based healthcare technology company that has developed the EU PHR App called the Single Patient Record and Clinicians' Directory products.
SPR team is lead by accomplished business executives and software developers. SPR co-founder and CTO Fenner Pearson and his UK-based Meantime Information Technologies, is an ISO 27001 accredited company, that creates bespoke software for a wide cross-section of business sectors, including aviation, where it carries out work for Heathrow and Dublin airports, amongst others.
SPR is fully compliant with all GDPR data laws.
To learn more about the SPR app, please watch the introductory video on this page:
Citations:
1 - https://hitconsultant.net/2015/01/28/european-ehr-market-expected-to-reach-3-7b-by-2020/
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", “intends”, "should", "believe" and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release include statements regarding RXB Healthcare Technologies’ strategy moving forward with dual-markets and dual-apps, as well as projections made regarding EHR records, etc.