CALGARY, AB, December 18, 2025/CNW/ – Comprehensive Healthcare Systems Inc. (TSXV: CHS) (the “Company” or “CHS“), an industry leader in healthcare benefits administration software and services, is pleased to announce the signing of a five-year contract with Amalgamated Employee Benefits Administrators and Amalgamated Life Insurance Company, (Amalgamated) providers of life  and health insurance solutions along with delivering health insurance and pension benefits administration in the Taft Hartley Multi-Employer Union space, to deploy its advanced administration platform across the organization’s pension and employee benefits operations. 

The agreement was signed on December 16^th, 2025 and expected started date is immediately upon signing. 

The signing of this agreement will result in a significant increase in the Company’s current revenue, approximately 25% on an annualized basis over the course of the contract. The Company expects the direct cost associated to fulfil this contract will be in the line with its historical average.    

Under this agreement, CHS will deliver a comprehensive solution that unifies pension plan management, benefits enrollment, claims processing, compliance tracking, and advanced analytics in a single, cloud-based platform.  The system is designed to streamline administrative workflows, improve participant experience, and support sustained growth across multi-employer and union-based health and pension plans.

“This five-year partnership marks a defining moment for Comprehensive Healthcare Systems and for the future of Taft-Hartley health and pension benefits administration, as our battle-tested Novus360 platform is deployed with one of the largest and most respected administrators in the multiemployer union space. This could significantly expand the reach of a solution that has already proven itself with union clients across the U.S.”, said Chris Cosgrove, CEO of Comprehensive Healthcare Systems

“By unifying health and pension administration on a single, modern, member-first system, this agreement could set a new benchmark for eliminating outdated silos, delivering real-time transparency for members and trustees, and driving measurable cost savings and efficiency at enterprise scale.”

“Our platform’s robust capabilities and scalability align perfectly with the evolving administrative demands facing TPA’s that manage diverse health and pension programs, and this milestone reinforces our commitment to delivering technology that simplifies administration, enhances member service, and helps administrators achieve measurable operational value.”

“We are proud to be the trusted technology partner supporting our client’s continued digital evolution and advancing innovation across the Taft-Hartley benefits market,” stated Mr. Cosgrove.

Amalgamated reinforced this sentiment, highlighting the strategic importance of the collaboration. “We selected Comprehensive Healthcare Systems after an extensive evaluation process because of their depth of expertise in both pension and health benefits administration,” said Sanjay Chojar, SVP and Chief Information Officer of Amalgamated. “The Novus360 platform stood out for its flexibility and integration capabilities within complex environments. This partnership will enable us to elevate our administrative service delivery and better serve our employer groups and participants.”

CHS’s solution includes data-driven analytics, automated workflows and secure cloud infrastructure to streamline plan administration while ensuring regulatory compliance and accuracy.

This five-year agreement reinforces CHS’s position as a trusted technology partner for health and pension benefits administrators seeking scalable, integrated solutions, and continues to diversify the company’s client base into new market segments and broaden its footprint across the healthcare and employee benefits ecosystem.

About Amalgamated Life Insurance Company and Amalgamated Employee Benefits Administrators, part of the Amalgamated Family of Companies 

Founded in 1943, Amalgamated Life Insurance Company has since grown into a leading provider of comprehensive insurance solutions operating in all 50 states and the District of Columbia.  The Company provides competitive group products including Term Life, Medical Stop Loss, Disability and Specialty Drug Cost Management, as well as voluntary products such as Accident, Accidental Death & Dismemberment, Critical Illness, Dental, Disability, ID Theft, Legal, Portable Term Life and Whole Life, among others.

Since 1975, Amalgamated Life Insurance Company has consistently earned the “A” (Excellent) Rating from A.M. Best Company attesting to its strong fiscal position and claims paying abilities.  The Company is a member of the Amalgamated Family of Companies; which includes: a third-party administrator, Amalgamated Employee Benefits Administrators; Amalgamated Medical Care Management, a medical care management firm; Amalgamated Agency, a property and casualty broker; and AliGraphics, a printing firm.

About Comprehensive Healthcare Systems Inc.

Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction-capable systems. The Company’s state-of-the-art Novus 360 Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including self-funded employers, providers, and labor unions), providing healthcare administrative software and technology-enabled services.

FORWARD-LOOKING INFORMATION:

The press release contains “forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: “anticipate”, “intend”, “plan”, “budget”, “believe”, “project”, “estimate”, “expect”, “scheduled”, “forecast”, “strategy”, “future”, “likely”, “may”, “to be”, “could”, “would”, “should”, “will” and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and conditional. These forward-looking statements are based on assumptions as of the date they are provided. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

Additionally, there are known and unknown risk factors that could cause the Company’s actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements, include among others: general economic, market and business conditions in Canada and globally; market volatility; unforeseen delays in timelines for any of the transactions or events described in this press release; and the risk of regulatory changes that may impact the business of the Company. All forward-looking information is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking statement or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:
COMPREHENSIVE HEALTHCARE SYSTEMS INC.
Chris Cosgrove, Chief Executive Officer
E-mail: chris.cosgrove@comphealthcare.com

Phone: 1-732-362-2010

The post Comprehensive Healthcare Systems Inc. Signs a 5-Year Benefits and Pension Administration Agreement with Amalgamated Life Insurance Company appeared first on Comp Health Care.

ComprehensiveHealthcare shares are also DTC services eligible for electronic clearing and settlement through the Depository Trust Company in the United States.

ChrisCosgrove, Chief Executive Officer of Comprehensive Healthcare Systems, commented: “We are pleased to achieve this corporate milestone, as part of a broader corporate strategy, for the company’s shares to be traded in both Canada and the United States. CHS is on a transformative journey in the multi-billion dollar US healthcare benefits and pension administration software and solutions market. The listing on the OTCQB market will enhance the visibility and transparency within the investment community in the US and should improve company’s access to the new and its existing shareholder base in the United States, including broader access to institutional capital”.

The OTCQB is US trading platform operated by OTC Markets Group Inc., www.otcmarkets.com, recognized as a trusted, established financial market distinguished by the integrity of its operations for US and international companies that wish to trade in the United States. The OTCQB Market offers companies the opportunity to build their visibility, expand much-needed liquidity and diversify their shareholder base on an established and regulated public market. To qualify for trading on this market, companies must meet a higher financial standard, follow best practice corporate governance and leadership, and demonstrate adherence to Canadian and U.S. Securities laws.

About Comprehensive Healthcare Systems Inc.

Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a service(SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction-capable systems. The Company’s state-of-the-art Novus 360Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including self-funded employers, providers, and labor unions), providing healthcare administrative software and technology-enabled services.

FORWARD-LOOKING INFORMATION:

Thepress release contains “forward-looking statements within the meaning ofapplicable securities laws. Forward-looking statements can be identified bywords such as: “anticipate”, “intend”, “plan”,”budget”, “believe”, “project”, “estimate”, “expect”, “scheduled”, “forecast”, “strategy”, “future”,”likely”, “may”, “to be”, “could”, “would”, “should”, “will” and similar references to future periods or the negative or comparable terminology, as well as termsusually used in the future and conditional. These forward-looking statements are based on assumptions as of the date they are provided. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

Additionally, there are known and unknown risk factors that could cause the Company’s actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements, include among others: general economic, market, and business conditions in Canada and globally; market volatility; unforeseen delays in timelines for any of the transactions or events described in this press release; and the risk of regulatory changes that may impact the business of the Company. All forward-looking information is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking statement or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:
COMPREHENSIVE HEALTHCARE SYSTEMS INC.
Chris Cosgrove, Chief Executive Officer
E-mail: chris.cosgrove@comphealthcare.com

The post Comprehensive Healthcare Systems Inc begins trading on the otcqb markets under the symbol cmhsf otcqb appeared first on Comp Health Care.

Key 2025Milestones and Achievements

Major client wins& a robust business development pipeline: To support strong revenue growth for the next 3 years. Active discussions at different stages with over 50 prospective clients.

Financial Turnaround resulting in positive EBIDTA: Net loss improved to US$ 0.6M with positive cash from operations of US$0.37M for the full year 2024 against a net loss of US$ 3.6M during 2023.(Source: Audited Financial Statement for years 2023 and 2024)

Shares Consolidation and shares for debt transactions to strengthen the balance sheet Addition of technology resources and enhancement of core Novus 360 Platform to scale growth

1.⁠ ⁠Major Client Wins Boost Revenue

In Q1 2025, CHS secured a multi-year contract with a prominent Midwest self-funded employer, adding 10,000 members to the Novus 360 platform. This was followed up in early Q2 2025 with the signing of an agreement with a Northeast Taft-Hartley union, collectively driving a 20% year-over-year revenue increase. These newly contracted partnerships, along with a strong pipeline for additional new clients, underscore the platform’s scalability and appeal in a fragmented benefits technology market.

2.⁠ ⁠Financial Turnaround Achieved

CHS reported positive adjusted EBITDA in Q4 2024, sustained into Q1 2025, marking a significant milestone in its “Pathway to Profitability” strategy. Monthly cash burn dropped to near-breakeven from USD 300,000 in Q3 2023, supported by a 30%reduction in vendor costs through internalized technology development and a June 2025 shares-for-debt transaction that strengthened the balance sheet.

3.⁠ ⁠Novus 360Platform Enhancements

In Q2 2025, CHS is preparing to launch advanced AI-driven features for Novus 360, including an enhanced automated workflow engine to quickly allow clients to configure new workflows and rules; predictive analytics for cost containment and blockchain-based claims verification to combat fraud and AI Agent technology for its digital engagement solutions. These enhancements, coupled with HIPAA, SOC 2, and HITRUST certifications, position the platform as a leader in compliance and innovation, helping clients to automate up to 85% of the claims adjudication process.

4.⁠ ⁠Leadership Team Expansion

CHS plans to appoint a Chief Revenue Officer and Chief Technology Officer during the second half of 2025, enhancing its ability to drive sales and innovate. The strengthened leadership team will be focused on accelerating client acquisitions and advancing platform capabilities to meet 2025 regulatory and market demand.

Current Status

CHS is experiencing steady growth and has built a strong foundation to achieve accelerated growth during the second half of 2025 and beyond. Operating through subsidiaries such as Health Plan Systems, Inc. and Sterling Health Services Inc, Inc., the Company serves a diverse client base across the U.S. A robust pipeline of over 50 prospective clients and active discussions with institutional investors for growth capital signal strong momentum. CHS’s focus on cost discipline, client success, and strategic investments has positioned it as a competitive player in the USD 3.1 billion Benefits and Pension Administration technology software and services market.

Future Outlook, Initiatives & Catalysts

CHS is poised for transformative growth in 2025 and beyond, leveraging industry tailwinds and its unique market position. Key initiatives include:

•⁠ ⁠Organic Growth Acceleration: CHS plans to double its sales team by Q4 2025, targeting mid-sized employers, third-party administrators, pension administrators and multi-employer unions to achieve 25% to 50% revenue growth in 2026. Enhanced client support, including 24/7 service and tailored onboarding, will drive retention and upsells.

•⁠ Strategic Acquisitions: The Company is pursuing two to three strategic acquisitions by mid-2026, integrating clients onto Novus 360to expand scale and cross-selling opportunities.

•⁠ Technological Innovation: Q3 2025 will see further Novus 360 enhancements, including a mobile-first member portal with Agentic AI integration for stronger member engagement, along with real-time price transparency, aligning with consumer demand for accessible care and compliance with the Transparency in Coverage Legislation.

•⁠ Market Leadership: CHS’s fully integrated platform differentiates it from legacy competitors, positioning it to capture greater market share.

•⁠ Alignment with Global Trends: CHS is capitalizing on digital health trends, including interoperability, cost transparency, and cybersecurity, as highlighted by recent CMS and WHO reports, to deliver value in a dynamic healthcare landscape.

CEO Commentary

“CHS is on a transformative journey in this multi-billion dollar healthcare benefits and pension administration software and service solutions market, says Comprehensive Healthcare’s CEO, Chris Cosgrove. Our Novus 360 platform drives efficiency and transparency, which is fueling major client wins, positive EBITDA, and AI-powered innovation in Q22025.  With a robust prospect pipeline, strategic acquisitions and a strengthened leadership team, CHS is poised for exponential growth and market leadership, delivering exceptional value to both our clients and shareholders.”

The Company also announces that it will conduct a shares for debt (SFD) settlement of up to $600,000 through the issue of up to one million shares at a deemed price of $0.60.   The Debt Settlement remains subject to the receipt of all necessary regulatory and TSX Venture Exchange approvals, as the case may be. All securities issued in connection with the Debt Settlement will be subject to a statutory hold period expiring four months and one day after the date of issuance.

About Comprehensive Healthcare Systems Inc.

Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction-capable systems. The Company’s state-of-the-art Novus 360Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including self-funded employers, providers, and labor unions), providing healthcare administrative software and technology-enabled services.

FORWARD-LOOKING INFORMATION:

The press release contains “forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified bywords such as: “anticipate”, “intend”, “plan”, “budget”, “believe”, “project”, “estimate”, “expect”, “scheduled”, “forecast”, “strategy”, “future”, “likely”, “may”, “to be”, “could”,” would”, “should”, “will” and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and conditional. These forward-looking statements are based on assumptions as of the date they are provided. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

Additionally, there are known and unknown risk factors that could cause the Company’s actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements, include among others: general economic, market and business conditions in Canada and globally; market volatility; unforeseen delays in timelines for any of the transactions or events described in this press release; and the risk of regulatory changes that may impact the business of the Company. All forward-looking information is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking statement or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:
COMPREHENSIVE HEALTHCARE SYSTEMS INC.
Chris Cosgrove, Chief Executive Officer
E-mail: chris.cosgrove@comphealthcare.com

The post Comprehensive Healthcare Systems q2 Update Leading Healthcare innovation with robust growth and strategic vision appeared first on Comp Health Care.

Novus360 is the first of its kind as a fully integrated benefits administration and technology services solution that digitizes how organizations administer their plans through an accessible, user-friendly, and secure platform. The client will be leveraging CHS’s digital engagement solutions, including the Novus360 Provider Portal to accelerate Prior Authorization and Medical Necessity checking, ensuring the appropriateness of care. CHS typically charges a per-member-per-month (PMPM)fee for offering Novus360 platform and related technology-enabled solutions, such as Utilization Management.

Utilization management (UM) is a systematic process in healthcare that evaluates the necessity, appropriateness, and efficiency of medical services, procedures, and facilities provided to patients. Its primary goal is to ensure that patients receive the most suitable, cost-effective care at the right time, while also controlling healthcare costs and maintaining or improving quality of care.

“A rising number of customers are seeing the immense value in implementing our Novus360 software and technology services within their organizations,” said CHS Chief Executive Officer, Chris Cosgrove. “The latest addition of this NYC-based client base will now ensure they will have the ability to streamline how their healthcare benefits get administered all under one fully integrated, comprehensive platform, ensuring their members’ needs are easily and efficiently met.”

CHS today also announced that its Board of Directors has approved the allocation of Restricted Stock Units and stock options under the company’s omnibus stock incentive plan.

The Company has granted 1,190,000 Restricted Stock Units (RSUs) and 50,000 incentive stock options (the”Options”) to various employees, officers, directors, and consultants. All RSUs shall vest 12 months from the date of grant. All stock options will vest immediately and are exercisable into shares at an exercise price of $0.40 per share for a 3-year term expiring on June 24^th, 2028. The allocation is part of CHS’s ongoing commitment to attract, retain, and motivate talented professionals who are essential to the company’s continued growth and success. The RSUs will be granted to eligible employees across various departments and levels, reflecting the company’s belief in rewarding performance and aligning employee interests with those of shareholders.

“Empowering our employees with equity in CHS reinforces our culture of ownership and innovation,” said Chris Cosgrove, CEO of CHS. “We are proud to recognize the dedication and contributions of our team as we continue to execute on our strategic vision.”

The stock incentive grants are subject to the receipt of any necessary regulatory approvals, including approval from the TSX Venture Exchange, required by the Company.

Additionally, the Company has canceled an aggregate of 6,200,000 stock options (“Cancelled Options”) to purchase common shares of the Company. These options were issued on September 22nd, 2022, to various officers, directors, employees, and consultants at a price of $0.075 and with an expiry term ranging from 3 to 10years from the grant date. After adjusting for recent share consolidations, these cancelled options represented 310,000 options and an adjusted strike price of C$1.50. These options were cancelled to better reflect the current capital structure of the company and to issue RSUs, which were not part of the company’s omnibus incentive plan during 2022.

About Comprehensive Healthcare Systems Inc.

Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction-capable systems. The Company’s state-of-the-art Novus360 Healthcare Welfare and Benefits Administration (HWBA)SaaS platform is used by clients for all aspects of healthcare benefits administration (including self-funded employers, providers, and labor unions), providing healthcare administrative software and technology-enabled services.

FORWARD-LOOKING INFORMATION:

The press release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: “anticipate”, “intend”, “plan”, “budget”, “believe”, “project”, “estimate”, “expect”, “scheduled”, “forecast”, “strategy”, “future”, “likely”, “may”, “to be”, “could”,” would”, “should”, “will” and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and conditional. These forward-looking statements are based on assumptions as of the date they are provided. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

Additionally, there are known and unknown risk factors that could cause the Company’s actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements, include, among others: general economic, market, and business conditions in Canada and globally; market volatility; unforeseen delays in timelines for any of the transactions or events described in this press release; and the risk of regulatory changes that may impact the business of the Company. All forward-looking information is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking statement or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:
COMPREHENSIVE HEALTHCARE SYSTEMS INC.
Chris Cosgrove, Chief Executive Officer
E-mail: chris.cosgrove@comphealthcare.com

The post Comprehensive Healthcare Systems Secures New York City based client on Novus 360 for streamlined high value utilization management solutions appeared first on Comp Health Care.

CALGARY, AB, March 3, 2025 /CNW/ – Comprehensive Healthcare Systems Inc. (TSXV:CHS) (the “Company” or “CHS”), a leading provider of healthcare benefits administration software and services, is pleased to announce the expansion of its client portfolio with a 5 year recurring revenue agreement with a prominent Midwestern Union. This new client has the potential to expand over the next few years, and the Company will have the opportunity to bring value with additional solution offerings. With this new partnership, the client will be implementing the Company’s innovative Novus 360 platform to streamline the management of their Healthcare Benefits and Pension Administration technology in one centralized system.

Novus 360 is the first of its kind as a fully integrated benefits administration solution that digitizes how organizations administer their plans through an accessible, user-friendly, and secure platform. The client will be leveraging CHS’s digital engagement solutions, including our Mobile Application and Member Portal, to improve engagement with union members and control costs, while additional software features will enable our new client to process billing and eligibility, retirement for pension, and disability benefits. CHS has made it a strategic priority to offer Novus 360 to a wider market as it continues to advance its growing client portfolio.

“A rising number of customers are seeing the immense value in implementing our Novus 360software solution within their organizations,” said CHS Chief Executive Officer, Chris Cosgrove. “The latest addition to our Midwest client base will now have the ability to streamline their healthcare benefits administration all under one fully integrated, comprehensive platform, ensuring their program’s needs are easily and efficiently met.”

About Comprehensive Healthcare Systems Inc.

Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction-capable systems. The Company’s state-of-the-art Novus360 Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including self-funded employers, providers, and labor unions), providing healthcare administrative software and technology-enabled services.

FORWARD-LOOKING INFORMATION:

The press release contains “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements can be identified bywords such as: “anticipate,” “intend,” “plan,” “budget,” “believe,” “project,” “estimate,” “expect,” “scheduled,” “forecast,” “strategy,” “future,” “likely,” “may,” “to be,” “could,” “would,” “should,” “will” and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and conditional. An example of a forward-looking statement in this news release is the intended use of the proceeds of the Private Placement. These forward-looking statements are based on assumptions as of the date they are provided. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

Additionally, there are known and unknown risk factors that could cause the Company’s actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements, include among others: general economic, market, and business conditions in Canada and globally; market volatility; unforeseen delays in timelines for any of the transactions or events described in this press release; and the risk of regulatory changes that may impact the business of the Company. All forward-looking information is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking statement or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Comprehensive Healthcare Systems Inc.

For further information: COMPREHENSIVE HEALTHCARE SYSTEMS INC., Chris Cosgrove, President& CEO, E-mail: chris.cosgrove@comphealthcare.com, Phone: 732-362-2010

The post Comprehensive Healthcare Systems Inc expands client portfolio with Midwest union addition appeared first on Comp Health Care.

The Company will now apply to the Toronto Venture Stock Exchange for reinstatement of trading in its stock.

The Company also announces that it received debt funding of $400,000 USD (approximately $540,000 CAD) with a convertible option for the lenders at an agreed permissible discount to the closing price per share of the Company recorded on the day before the conversion is approved by relevant regulatory bodies and a press release is issued regarding the proposed conversion.

This conversion is subject to all necessary regulatory approvals including the approval of TSX Venture Exchange (“TSXV”)and where applicable an approval from majority of shareholders who attend and vote their shares in a special annual general meeting of the Company.

As disclosed before and in its recently filed audited annual financial statement for year ended December 31, 2023, first quarter ending March 31, 2024, second quarter ending June 30, 2024, and related management discussion & analysis, during 2023, the Company experienced financial and operational challenges impacting profitability. As a result, the Company made significant restructuring efforts to reduce costs and improve operations.

Although the Company has made significant progress in aligning its cost structure to the revenue base, it continues to face funding challenges to fuel its growth. Therefore, the Company will continue to seek additional funding to manage its working capital and to meet its outstanding obligations.

About Comprehensive Healthcare Systems Inc.

Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction-capable systems. The Company’s state-of-the-art Novus 360 Healthcare Welfare and Benefits Administration(HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including self-funded employers, providers, and labor unions), providing healthcare administrative software and technology-enabled services.

FORWARD-LOOKING INFORMATION:

The press release contains “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “budget,” “believe,” “project,” “estimate,” “expect,” “scheduled,” “forecast,” “strategy,” “future,” “likely,” “may,” “to be,” “could,” “would,” “should,” “will” and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and conditional. These forward-looking statements are based on assumptions as of the date they are provided. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

Additionally, there are known and unknown risk factors that could cause the Company’s actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements, include among others: general economic, market and business conditions in Canada and globally; market volatility; unforeseen delays in timelines for any of the transactions or events described in this press release; and the risk of regulatory changes that may impact the business of the Company. All forward-looking information is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking statement or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Comprehensive Healthcare Systems Inc.

For further information:
COMPREHENSIVE HEALTHCARE SYSTEMS INC.
Chris Cosgrove, Chief Executive Officer
E-mail: chris.cosgrove@comphealthcare.com

The post Comprehensive Healthcare Systems Inc announces removal of cease trade order appeared first on Comp Health Care.

The Company has advised that since the last update there has been significant progress in terms of raising capital as well as new Client Acquisition. The largest shareholder has tentatively agreed to infuse capital and details will be shared shortly. This would address the immediate need for the audit and other essential matters. Further, the issuer continues to make significant progress improving Revenue Collections and Cost Re-engineering while enhancing Client Support and Retention. The company looks to update progress status in our next communication.

The Company intends to satisfy the provisions of the alternative information guidelines set forth in sections 9 and 10 of National Policy 12-203 – Management Cease Trade Orders so long as it remains in default of the Annual Filings, and so long as it anticipates or is in default of the Interim Filings. The Company further advises that it is not subject to any insolvency proceedings, and that there is no other material information concerning the affairs of the Company at this time that has not been generally disclosed.

About Comprehensive Healthcare Systems Inc.

Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction capable systems. The Company’s state-of-the-art Novus 360 Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including self-funded employers, providers, and labor unions), providing healthcare administrative software and technology-enabled services.

FORWARD-LOOKING INFORMATION:

The press release contains “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “budget,” “believe,” “project,” “estimate,” “expect,” “scheduled,” “forecast,” “strategy,” “future,” “likely,” “may,” “to be,” “could,” “would,” “should,” “will” and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and conditional. These forward-looking statements are based on assumptions as of the date they are provided. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

Additionally, there are known and unknown risk factors that could cause the Company’s actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements, include among others: general economic, market and business conditions in Canada and globally; market volatility; unforeseen delays in timelines for any of the transactions or events described in this press release; and the risk of regulatory changes that may impact the business of the Company. All forward-looking information is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking statement or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Comprehensive Healthcare Systems Inc.

For further information:
COMPREHENSIVE HEALTHCARE SYSTEMS INC.
Chris Cosgrove, Chief Executive Officer
E-mail: chris.cosgrove@comphealthcare.com
Phone: 1-732-362-2010

SOURCE: Comprehensive Healthcare Systems Inc.

The post Update on Delay in Filing of Annual Financial Statements appeared first on Comp Health Care.

The Company has advised that since the last update, it has been progressively working on sourcing potential financing that would address the immediate need for audit and other essential matters Discussions are underway with its largest shareholder to participate in that financing which has been positively received. The Company looks to update progress status in its next communication

The Company intends to satisfy the provisions of the alternative information guidelines set forth in sections 9 and 10 of National Policy 12-203 – Management Cease Trade Orders so long as it remains in default of the Annual Filings, and so long as it anticipates or is in default of the Interim Filings. The Company further advises that it is not subject to any insolvency proceedings, and that there is no other material information concerning the affairs of the Company at this time that has not been generally disclosed.

About Comprehensive Healthcare Systems Inc.

Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction capable systems. The Company’s state-of-the-art Novus 360 Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including self-funded employers, providers, and labor unions), providing healthcare administrative software and technology-enabled services.

FORWARD-LOOKING INFORMATION:

The press release contains “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “budget,” “believe,” “project,” “estimate,” “expect,” “scheduled,” “forecast,” “strategy,” “future,” “likely,” “may,” “to be,” “could,” “would,” “should,” “will” and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and conditional. These forward-looking statements are based on assumptions as of the date they are provided. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

Additionally, there are known and unknown risk factors that could cause the Company’s actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements, include among others: general economic, market and business conditions in Canada and globally; market volatility; unforeseen delays in timelines for any of the transactions or events described in this press release; and the risk of regulatory changes that may impact the business of the Company. All forward-looking information is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking statement or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Comprehensive Healthcare Systems Inc.

For further information:
COMPREHENSIVE HEALTHCARE SYSTEMS INC.
Chris Cosgrove, Chief Executive Officer
E-mail: chris.cosgrove@comphealthcare.com
Phone: 1-732-362-2010

The post Comprehensive healthcare Systems Inc provides update on delay in filing appeared first on Comp Health Care.

Comprehensive Healthcare Systems is pleased to provide an update on the business ending February 29^th, 2024.

Key Highlights:

• Completed major operational restructuring resulting in significant cost savings.
• Achieved realignment of cost structure to current revenue base.
• The Company expects to report positive EBIDTA on an adjusted go-forward basis in Q1 2024,” not including legacy payments and extraordinary items against an average cash loss of over USD 300K per month as reported in quarter ending September 30, 2023. This does not include legacy payables under previous management, and extraordinary items.
• Implemented price rationalization across the client base to account for increased inflation resulting in enhanced revenue.
• Well positioned to explore additional revenue opportunities from current client base.
• Strong pipeline of new business development opportunities.
• Internalized technology team and reduced reliance on third party vendors resulting in better quality control and improved performance for clients.
• Strengthened management team in areas of operations and technology.
• Improved Customer Experience: Customers’ support response improved 300% Year over year.
• The Company continues to diligence strategic opportunities that could enhance shareholders’ value.

Operational Improvements:

Having completed our organizational restructuring in Q3/Q4, FY23, it has allowed us to complete the rollout of our new development and support strategy. The Company implemented a strategy to secure and internalize its fulfillment team and discontinued using third party vendors. This has resulted in a significant saving for CHS. The company and our clients are also seeing the positive effects from those efforts. Client support response has improved by almost 300% Year Over Year, and our new client engagement methodology has improved the level of client satisfaction, utilizing a better communication process and hitting committed delivery dates.

As we implement new clients this year, we will be utilizing a new methodology which leverages preferred content from some of our strongest clients in the market. This will allow us to accelerate delivery, reduce cost, and drive speed to value for our clients. These strategies are all geared towards our goal of an industry leading client experience.

Financial Metrics Improvements:

As these changes have had a positive effect for our clients, they have also done the same for our financial health. Better delivery has driven down our costs of sale, driving increased EBITDA profitability. We are pleased to report that the Company has made significant improvements in aligning its cost structure to the current revenue base. The Company expects to report positive EBIDTA on an adjusted go-forward basis in Q1 2024,” not including legacy payments and extraordinary items against an average cash loss of over USD 300K per month as reported in quarter ending September 30, 2023. This does not include legacy payables under previous management, and extraordinary items. This puts CHS on a path to being in better financial health and in a better position to invest more in our technology, cyber security protocols, and product enhancements this year.

While the financial performance has improved, like other small growth companies, CHS continues to look at additional capital options. The Company is in active discussions with potential strategic investors to secure more robust working capital cushion and to implement organic and acquisition-based growth strategies. This will allow the company to expand its sales and marketing efforts, along with product and technology advancements.

Growth: – Organic/Inorganic

We continue to see a high demand for our solutions in the market. Our unique ability to deliver a fully integrated solution, supporting all aspects of the benefits management continuum, including but not limited to: Member engagement, eligibility, claims adjudication, Annuities, cobra, and reporting/analytics, allows us to stand alone in a market that’s highly fragmented. An integrated solution allows clients to leverage one vendor for their technology requirements, bringing them more capabilities which can streamline their processes and reduce costs of managing multiple vendors. With over 1200 Taft Hartley Unions, and 130,000 Third Party Administrators (TPA’s) throughout the US, the Company has a large addressable market to cater to.

CHS is one of only a few providers that provides a fully integrated healthcare benefits administration software platform to the Taft Hartley Unions who self-administer their HealthCare plans, which gives the Company a great opportunity to secure future contracts. The Company is pleased to report that it has a strong pipeline of business development opportunities, and it will vigorously pursue these prospects during the year 2024.

The opportunity to grow through acquisition is also an initiative for 2024. In a highly fragmented market, having the ability to leverage more capabilities, technology and tech enabled services allows us to provide more value for our clients, and drive larger revenue growth in the market. The TPA market has been a very active space for acquisition opportunities.

With our software’s ability to automate up to 80% of the claims adjudication process, it’s a natural fit for us to bring TPA’s into our Novus360 technology platform. The market growth for the TPA’s is driven by the rise in adoption of TPA’s in the health insurance industry, rise for need for operational efficiency and transparency in the health insurance business and technological advancements in TPA services. In a report titled “Insurance Third Party Administrator Market” published in September 2023, Allied Market Research projects this global market to reach $795 Billion by 2032. (https://www.alliedmarketresearch.com/insurance-third-party-administrator-market-A12542)

We currently have identified at least two targets for acquisition and are currently evaluating our acquisition financing options to advance such transactions.

Moving Forward:

Over the next few quarters, the company will continue to work to refine our new processes as we continue to increase our ability to drive high levels of satisfaction to our new and existing clients.

As the new leadership team has taken over, we will also continue to focus on managing the past payables and debt that had been incurred by previous leadership, and work to drive that down over the next couple years.

“We are excited to have transformed Comprehensive Healthcare into a cash flow positive business on a go forward basis, with a very focused go to market strategy and message,” cited CHS CEO, Chris Cosgrove, “with a fully integrated platform, along with a host of tech enabled solutions to compliment the technology, it provides us a unique competitive market advantage which will allow us to drive significant growth.”

About Comprehensive Healthcare Systems Inc.

Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction capable systems. The Company’s state-of-the-art Novus 360 Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including self-funded employers, providers, and labor unions), providing healthcare administrative software and technology-enabled services.

FORWARD-LOOKING INFORMATION:

The press release contains “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “budget,” “believe,” “project,” “estimate,” “expect,” “scheduled,” “forecast,” “strategy,” “future,” “likely,” “may,” “to be,” “could,” “would,” “should,” “will” and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and conditional. An example of a forward-looking statement in this news release is the intended use of the proceeds of the Private Placement. These forward-looking statements are based on assumptions as of the date they are provided. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

Additionally, there are known and unknown risk factors that could cause the Company’s actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements, include among others: general economic, market and business conditions in Canada and globally; market volatility; unforeseen delays in timelines for any of the transactions or events described in this press release; and the risk of regulatory changes that may impact the business of the Company. All forward-looking information is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking statement or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Comprehensive Healthcare Systems Inc.

For further information:
COMPREHENSIVE HEALTHCARE SYSTEMS INC.
Chris Cosgrove, Chief Executive Officer
E-mail: chris.cosgrove@comphealthcare.com
Phone: 1-732-362-2010

The post Comprehensive Healthcare Systems Inc provides corporate update and strategic plan appeared first on Comp Health Care.

The new contract will generate over C$ 4.3M in recurring revenues over a period of 5 years for the Company and has the potential to expand during the length of the contract. The new client will be leveraging the Company’s innovative Novus 360 solutions platform and Third-Party Administrator (TPA) services to streamline their benefits management through one centralized system.

The Company went through a rigorous bidding process and competed against several vendors to win the contract. The management believes that the successful addition of a large client is testimony to the value that the Company’s platform can offer to prospective clients.

In Novus 360, CHS has developed the first fully integrated benefits admin solution that modernizes how organizations administer their plans and offers a comprehensive suite of customizable tools. This technology will provide support for the client’s annual benefits enrollment for members and eligible dependents, with key features including Working Spouse Rule verification, district billing and premium collection, and COBRA management. In addition, CHS will be producing tailored video guides to educate consortium members on how to efficiently utilize the platform’s member portal for enrolling in their benefits.

“We are excited to welcome a new large education consortium to our evolving client portfolio,” said CHS Chief Executive Officer Chris Cosgrove. “Our powerful Novus 360 benefits administration solution will enable this client to maximize efficiencies in processing claims, billing, and eligibility, while our step-by-step video tutorials will support all members through the enrollment process. We also believe that this new contract will help the Company to expand its reach within the unions focused on school districts and the education sector overall, who seek solutions to similar challenges.”

The Company continues to build a robust sales pipeline and believes that its value proposition resonates strongly with prospective clients. Chris Cosgrove, commented that “the Company remains focused on a two-fold growth strategy first by increasing revenue organically and through an acquisition strategy within the Third-Party Administration (TPA) market. The TPA market is a fragmented sector with many small players who heavily rely on human services. With the combination of the sales and M&A pipeline the company has developed, we believe that 2023 should be a pivotal year with regards to potentially adding new revenue opportunities”.

In the TPA space, 83.5% provide services to health and welfare funds that provide employer-sponsored health insurance. Collectively, the TPA industry represents a USD $274 billion revenue market. (Source: 2022 IBISWorld Industry Report 52429 titled “Third-Party Administrators &Insurance Claims Adjusters in the US.”)

About Comprehensive Healthcare Systems Inc.

Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction capable systems. The Company’s state-of-the-art Novus 360 Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including self-funded employers, providers, and labor unions), providing healthcare administrative software and technology-enabled services.

FORWARD-LOOKING INFORMATION:

The press release contains “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “budget,” “believe,” “project,” “estimate,” “expect,” “scheduled,” “forecast,” “strategy,” “future,” “likely,” “may,” “to be,” “could,” “would,” “should,” “will” and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and conditional. An example of a forward-looking statement in this news release is the intended use of the proceeds of the Private Placement. These forward-looking statements are based on assumptions as of the date they are provided. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

Additionally, there are known and unknown risk factors that could cause the Company’s actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements, include among others: general economic, market and business conditions in Canada and globally; market volatility; unforeseen delays in timelines for any of the transactions or events described in this press release; and the risk of regulatory changes that may impact the business of the Company. All forward-looking information is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking statement or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Comprehensive Healthcare Systems Inc.

For further information:
COMPREHENSIVE HEALTHCARE SYSTEMS INC.
Chris Cosgrove, Chief Executive Officer
E-mail: chris.cosgrove@comphealthcare.com
Phone: 1-732-362-2010

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