NEWPORT BEACH, Calif., Feb. 06, 2018 (GLOBE NEWSWIRE) -- via NetworkWire – ORHub, Inc. (OTC:ORHB) announced today that $3.2 million dollars has been successfully raised to further the Company’s reach into the marketplace with its revolutionary healthcare IT Vertical Specific Software, which is poised to transform the business of surgery by delivering real-time, case-based surgical data analytics.
This latest funding comes on the heels of the recent warrant program that, at the close of 2017, yielded the Company $3.8 million in working capital.
Offering enhanced capabilities over traditional EHR solutions in the operating room, ORHub’s software creates a value-based solution that streamlines surgical care delivery by tracking comprehensive data using proprietary technology. The Company’s software has international applications and is particularly ripe for deployment in the United Kingdom, where such solutions are being urgently sought.
ORHub has already secured commitments from three additional major hospitals and has generated interest from countless others. This timely funding will enable the Company’s management to meet this demand. ORHub recently announced gross proceeds of $3,860,000 from the exercise of warrants prior to their expiration on December 31, 2017.
“We are very pleased with having the resources and capability to harness and propel our performance and efficiency levels, as anticipated demands heighten. We believe that having the funding in place to facilitate expected orders and maximize efficiency is key to being fully prepared for success,” stated Colton Melby, CEO of ORHub.
About ORHub, Inc.: ORHub is a medical software company focused on delivering case-based data analytics at the speed of surgery. The Company's suite of products serves the needs of the health care industry, hospital, patient, government and the medical device vendor. ORHub provides a cloud-based software solution that captures information before, during and after surgery, filling a void in the current surgical information infrastructure and providing the first process to capture and measure the surgical process -- evolving Big Data into Intelligent Digital Data.
ORHub's software applications allow hospitals and medical device vendors to utilize any web-enabled device to create an anatomical graphic depiction of exactly what occurs during surgery. The application automatically translates the resulting schematic into an intelligent, electronic operative report that links every detail of surgery, including implant location, surgical techniques, product usage, and all clinical parameters to create a dynamically new source of comparative information.
As a result, hospitals and surgeons can make real-time, data driven decisions to improve business profitability and the quality of patient care. This innovative technology results in hospitals understanding costs and identifying areas of cost reductions, as well as results in increased accountability, automatic creation of comprehensive anatomic implant registries, real-time analytics, improved efficiencies, and compliance with existing government regulations. ORHub has offices in Phoenix, Arizona; Newport Beach, California; and Bellevue, Washington. For more information, visit www.ORHub.com
Forward-Looking Statements: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be attained. Such statements are inherently uncertain, and actual results and activities may differ materially from those estimated or projected. Certain factors that can affect the Company's ability to achieve its anticipated results include, among others, uncertainties inherent in the development of a new software product business.
ORHub Contact:
Lanny Lang, CFO
Lanny.Lang@ORHub.com
844.545.4508 x 403
Jason Brown, Shareholder Relations
844.545.4508 x 405
350 S. Mill Ave. B-202
Tempe, AZ 85281
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