NEW YORK–(BUSINESS WIRE)–SCWorx Corp (NASDAQ: WORX) today announced the signing of a new
agreement with a 448 bed New York-based single standing university
medical center. The $649,000 agreement to provide data management
services is initially for a three-year term with annual extensions upon
mutual written agreement of the parties.

Marc Schessel, CEO of SCWorx commented: “This award is especially
gratifying to us at SCWorx as this medical center had only limited funds
to use to enhance its business system infrastructure and has significant
goals in terms of margin improvement – as such the medical center
performed one of the most in-depth due diligence that we have ever
experienced. The fact that ultimately the account chose not only our
base data management service, but our advanced interoperability systems
is, we believe, additional proof that our suite of automated management
services provides the solutions that finance professionals find
critically valuable. Our company, being Provider-centric, can solve the
complex systems integration issues that are blocking them from achieving
a more stable and efficient business platform.”

The Company does not expect to incur any significant additional overhead
resulting from this contract and anticipates procuring new contracts for
its software by numerous other healthcare providers in the foreseeable
future.

About SCWorx

SCWorx offers an advanced software solution for the management of health
care providers’ foundational business applications. Together these
software systems have been credited with the healthcare providers’
customers tending to realize reduced medical expenses, while healthcare
providers have tended to experience expanded revenues and more
successful and safer clinical outcomes. The SCWorx software solution
ultimately transforms many aspects of the healthcare providers’ business
through its delivery of highly accurate, real-time information that
offers the executives of these healthcare providers the ability to
optimize many areas of their day-to-day operations, negotiate better
contracts with their vendors and payors and make better decisions with
respect to strategic purchases.

Forward-looking Statements

This press release contains “forward-looking statements” that involve
substantial risks and uncertainties for purposes of the safe harbor
provided by the Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical facts, included in this
press release regarding strategy, future operations, future financial
position, prospects, plans and objectives of management are
forward-looking statements. Examples of such statements include, but are
not limited to, SCWorx may not actually achieve the plans, carry out the
intentions or meet the expectations or projections disclosed in the
forward-looking statements, including but not limited to securing future
contracts, and you should not place undue reliance on these
forward-looking statements. Such statements are based on management’s
current expectations and involve risks and uncertainties. Actual results
and performance could differ materially from those projected in the
forward-looking statements as a result of many factors, including,
without limitation, the ability to project future cash utilization and
reserves needed for contingent future liabilities and business
operations and the availability of sufficient resources of the combined
company to meet its business objectives and operational requirements.

No Offer or Solicitation

This communication shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to buy
any securities, nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any
such jurisdiction.

View source version on businesswire.com: https://www.businesswire.com

Contacts

SCWorx Corp.
John Price, CFO
[email protected]