ORHub, Inc. Has Negotiated a Ninety Day Stay of Litigation
TEMPE, Ariz., August 2019 — ORHub, Inc. (OTC: ORHB) (“ORHub” or the “Company”), a Microsoft Silver Partner and cloud-based healthcare intelligence company focused on the business of surgery, today announced that the Company received confirmation from the courts granting a stay of litigation for ninety days while the Company and certain shareholders make efforts to negotiate a fair resolution pertaining to their contractual dispute arising out of the Series 2017 A 12% Note Agreement.
The Company’s Chairman and CEO, Dr. Robert “Bobby” Lazzara, stated, “I am pleased with the progress the Company has made so far working with these former note holders in finding an equitable resolution that addresses their concerns. Our number one goal is to maximize the value of our shareholders, while managing the interests and concerns of all our constituents.”
About ORHub, Inc.
ORHub is a growth stage data analytics company on a mission to optimize the Business of Surgery through lean process improvement. As a Microsoft Silver Partner, ORHub leverages the Azure cloud to help customers unlock the power in their data captured in the OR. Surgical Spotlight® helps providers harness that data, identify millions of dollars in opportunities, and get leaders back to their primary focus: improving care, increasing patient access and reducing costs. A first-of-kind team building tool brings all stakeholders together with regular and accessible information. ORHub specializes in business intelligence for the operating room, built by professionals from the operating room.
Industry Statistics: The U.S. market continues to grow, with over 5,500 hospitals and 6,100 ambulatory surgery centers (ASC,s) performing over 50 million medical procedures annually. According to MarketsandMarkets, the global healthcare analytics market will approach 50BN by 2024 with a 5-year Compound Annual Growth Rate (“CAGR”) of 28.3% from 2019.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be attained. Such statements are inherently uncertain, and actual results and activities may differ materially from those estimated or projected. Certain factors that can affect the Company’s ability to achieve its anticipated results include, among others, uncertainties inherent in the development of a new software product business.