SinglePoint Signs LOI with ORHub to Launch Healthcare Blockchain Initiative
SEATTLE, Feb. 21, 2018 (GLOBE NEWSWIRE) -- via NetworkWire - SinglePoint, Inc. (OTCQB:SING) is pleased to announce a Letter of Intent (“LOI”) with ORHub, Inc. (OTC:ORHB) to build-out a blockchain services platform for health care applications. ORHub’s surgical resource management (“SRM”) software is transforming the way hospitals handle operating room data, enabling dramatic reductions in supply chain costs. SinglePoint will design and develop for ORHub blockchain-based solutions as an add on to enhance the value of data collected by the operating room software platform. ORHub has agreed to engage SinglePoint for up to $750,000 in initial development costs. SinglePoint believes this is the first of many contracts that it will execute in the blockchain development space.
SinglePoint recently completed an annual audit, uplisted to trading on the OTCQB Venture Market and announced the addition of Venugopal Aravamudan as a board member with the intent of acquiring new business and joint technology ventures leveraging his vast network and connections built at Amazon, F5 and others. SinglePoint believes the value of the intelligent data captured at the point of care can be further unlocked through blockchain solutions that streamline and enhance the accuracy of medical records, efficiency of inventory management, and improvement of billing cycles.
“Having ORHub select SinglePoint as their solutions architect is fantastic. We are beyond excited to dig into this project and develop a truly industry-changing solution. With the commitment from ORHub to fund the project, we are in a strong position to design, develop and execute on the solution. As part of this collaboration and broader corporate initiatives in the blockchain market, we are aggressively establishing working relationships with key blockchain engineers,” states SinglePoint President Wil Ralston.
“This healthcare blockchain initiative with SinglePoint is an exciting development for us at ORHub. Our vision is to dramatically lower surgical costs, create time efficiencies while improving patient outcomes by capturing relevant surgical data and deploying this information through blockchain solutions to provide instant access for doctors, patients and hospital administrators. We believe that blockchain inspired technology will set the stage for surgical data to evolve into a new paradigm based on a shared infrastructure platform. We look forward to these advanced solutions that will enable ORHub to continue to transform the business surgery,” states Colt Melby, CEO of ORHub.
About SinglePoint, Inc.
SinglePoint, Inc. (SING) has grown from a full-service technology provider to a publicly traded holding company. Through diversification into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, thereby providing a rich, diversified holding base.
About ORHub, Inc.
ORHub is an advanced surgical software provider focused on real-time surgical data analytics. 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 under- standing 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
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
Released February 21, 2018