Empowering Government Efficiency via Enterprise and Mobile Solutions
Message: HealthSpace Announces $2M Contract with the State of Wisconsin Department of Agriculture for HSCloud and HSPay
VANCOUVER, BC , Feb. 1, 2021 /CNW/ - HealthSpace Data Systems Ltd. (the "Company" or "HealthSpace") (CSE: HS) ( Frankfurt : 38H) (OTCQB: HDSLF) is pleased to announce a new, five year agreement with the State of Wisconsin Department of Agriculture (the "Department" or "Wisconsin"). The department will use HSCloud Suite for their consumer regulatory programs. The agreement also includes adoption and usage of the Company's HSPay platform statewide for online payments for its citizens. The total value of the contract is $2,039,540 , of which $1.9M is recurring subscription revenue over the next five years. The Company and the Department have agreed to negotiate additional professional services fees, as well as adding additional modules, during upcoming fiscal years which will increase the overall contract value. Additionally, there will be future revenue generated as part of the HSPay implementation.
HealthSpace CEO, Silas Garrison commented "I am very excited to announce this relationship with the Wisconsin Department of Agriculture. This is further validation of the flexibility and power of our product suite in other types of government agencies beyond environmental health. This was an agreement largely negotiated in 2020, but due to the pandemic, and other related issues, it took a little extra time to finalize. I am very proud of our team's perseverance and efforts in working through larger and more complex contracts in a challenging environment. We look forward to having Wisconsin join our cloud suite product family and helping them become more efficient in their regulatory data management."
HealthSpace Data Systems Ltd.
HealthSpace is an industry leading technology company currently providing inspection, information, communication and data management systems for federal, state, county and municipal governments. Over the last decade, HealthSpace has successfully developed both enterprise and mobile internet-based applications currently serving over 500 state and local government organizations across North America . HealthSpace currently offers the only integrated inspection, administration and analytics product suite across all platforms in North America . Further, HealthSpace now delivers its government grade technologies to private businesses enabling them to gain visibility and predictability into their own organizations and move from a reactive to a proactive operational status. HealthSpace continues to deliver focused service and innovative solutions to government organizations, while expanding into commercial enterprise verticals to enable new customers with proactive environmental health best practices and policies. HealthSpace has now entered into the FinTech space by creating a payment platform that streamlines the intake of government revenue for the agencies it serves.
This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "pipeline", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although HealthSpace believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. HealthSpace expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE HealthSpace Data
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