Comprehensive Healthcare Systems Inc. (TSXV: CHS) (OTCQB: CMHSF) has signed a five-year agreement with the Teamsters Local 237 Welfare and Retirees Benefit Fund to deploy its Novus360 cloud-based administration platform for healthcare benefits and retirement administration. The contract represents the company’s third new five-year agreement in the past six months, bringing the combined value of the three contracts to approximately US$12.1 million (C$17 million) and increasing CHS’s signed order book to approximately US$27 million (C$38 million).
The company stated that the three recently signed agreements are expected to generate average annual revenue of approximately US$2.4 million (C$3.36 million) over their terms. The Teamsters Local 237 contract strengthens CHS’s position in the Taft-Hartley and multi-employer benefits market while establishing a reference client within the broader Teamsters network, which represents approximately 1.3 million members across the United States and Canada.
CHS is a vertically integrated software-as-a-service company focused on digitizing healthcare with its Novus360 Healthcare Welfare and Benefits Administration platform. The platform is used by clients including self-funded employers, providers, and labor unions for all aspects of healthcare benefits administration. The company’s recent contract wins underscore its growing traction in the labor union and multi-employer benefits space.
For more information about Comprehensive Healthcare Systems, visit https://www.comphealthcare.com/. The full press release is available at https://ibn.fm/0G5zr.
