TORONTO, June 05, 2017 (GLOBE NEWSWIRE) — Grenville Strategic Royalty Corp. (TSXV:GRC) (“Grenville” or the “Company”) today announced it has signed a royalty purchase agreement with Kare Intellex Inc. (“Kare”) to provide USD$350,000 in acquisition and growth capital.
Kare offers software that automates tedious paper record-keeping and insurance billing for home health agencies. With this financing, the company has completed the acquisition of Alternacare Home Health Services Inc. (“Alternacare”) which will serve as a platform for demonstrating the value of the Kare software. By combining the two businesses, Kare will be able to fully integrate with medical providers, large insurance providers, and families to significantly improve the way home care is delivered.
“We are very pleased to add to our technology-enabled healthcare portfolio with the investment in Kare Intellex,” said Grenville CEO Steve Parry. “Hanad Duale, Cindy Thiel and their industry-expert board are taking advantage of the strongest trend in US healthcare – the move towards homecare as a more cost effective and patient-friendly method of delivering services. We believe the combination of Kare’s technology platform with the acquisition of Alternacare is a great model for demonstrating this approach.”
About Kare Intellex Inc.
Kare Intellex Inc. has developed an on-demand mobile platform that is transforming homecare delivery by empowering patients, caregivers and payers to reduce costs and focus resources where they’re needed most, patient care. Via its recent acquisition of Alternacare, the company now offers home health services to patients located in the South East of the state of Ohio.
About Grenville
Based in Toronto, Grenville Strategic Royalty Corp. is a publicly-traded royalty company that makes investments in established businesses with revenues of up to $50 million dollars. Grenville generates revenues from royalty payments and buyouts from contracts. The non-dilutive royalty financing structure offered by Grenville competes directly with traditional equity to meet the long-term financing needs of companies on more attractive commercial terms.
Neither TSX Venture Exchange nor its Regulation Services 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, please contact:
Grenville Strategic Royalty Corp.:
Steven Parry
Chief Executive Officer
Tel: (416) 777-0383
