Quantum
Home > Boards > US OTC > Telecommunications Hardware >

ORHUB Inc. (ORHB)

ORHB RSS Feed
Add ORHB Price Alert      Hide Sticky   Hide Intro
Moderator: RandyKCMO
Search This Board: 
Last Post: 11/14/2018 1:11:04 PM - Followers: 13 - Board type: Free - Posts Today: 0

ORhub, Inc. (ORHB) is a cloud-based software platform designed to transform the business of surgery into a value-based model. The platform empowers care providers at every stage of the surgical process to collaborate, organize, deliver, measure, and reimburse in one intuitive, easy-to-use program. This significantly decreases cost and improves outcomes by eliminating inefficiencies, duplications of effort, errors and omissions that result from siloed processes in outdated software and poor handoffs from one part of the care process to another.

In an industry where major IT rollouts traditionally cost millions of dollars and take an average of 18 months, pilot installations of ORhub have been completed in less than a month. By avoiding integration with legacy systems completely through a radically comprehensive and collaborative approach, providers see results right away. This approach produces real-time metrics in a uniform manner at any institution, which makes it ideal for large providers looking to make improvements across the board at multiple facilities.

ORhub started as a pilot program developed in cooperation with a major Southern California hospital. It has since expanded operations into a second facility at the number two non-profit hospital system in the United States. Three additional pilot programs are scheduled prior to a national launch. The company has raised more than $1.6 million as of January 2017.

The company is also a showcase member of the startup program at Microsoft, which has been a key partner by providing financial assistance, strategy, introductions to influencers and mentors, and access to its sales organization who see ORhub as an exciting partner to expand the utilization of Microsoft Surface devices and Azure Cloud. Microsoft is funding a major case study in partnership with Intel about the impact of ORhub on participating institutions to be concluded sometime in Q2 2017.

Delivering surgical care to a single patient is a complex process that may take half a dozen companies and more than a dozen departments cooperating inside and outside the care facility. ORhub simplifies and streamlines this process by enabling vendors, providers, and surgeons to collaborate on providing care.

Investment Highlights

• Transforming the business of surgery into a value-based model
• Strong pilot program with major California hospital network
• Expanded operations to No. 2 non-profit hospital system in the U.S.
• Preparing for additional launch of pilot program on a national scale
• Showcase member of the startup program at Microsoft
• Digital platform has potential to revolutionize surgical care
• EHR has enhanced capabilities over traditional OR solutions
• Visionary leadership team with wealth of relative experience

 


Technology

Harnessing the uncaptured data of the operating room for economic value and improved outcomes

Many hospitals and vendors rely on paper forms and handwritten notes to track everything that happens in the operating room, from the details of a procedure to the implants and tools used. This leads to mistakes, missing data, delays or lack of payment, time wasted, and little opportunity for analysis and improvement.

ORHub's digital platform:

• Eliminates errors caused by poor handwriting
• Reduces opportunity for mistakes by allowing users to select from pre-loaded sets of detailed implants and tools rather than relying on memory or catalogue numbers alone
• Further reduces errors by requiring verification and sign-off from multiple users before completing a case
• Creates purchase orders and implant records automatically based on the case record, saving time and improving reliability
• Fits within existing operating room workflow and requirements, streamlining tasks to save time
• Enables rich data analysis across all of a hospital's cases tracked through ORHub

 


The Opportunity

Providing enhanced capabilities over traditional EHR solutions

The need for ORhub is clear. Health care costs are out of control at more than 17% of U.S. GDP, which equates to over $3 trillion per year. With costs rising every year due to an aging population and increasingly expensive treatments, providers are under severe pressure to become more efficient and reduce costs. This is happening because payors are aggressively reducing reimbursements and finally moving away from fee-for-service and toward a performance-based reimbursement system referred to as value-based health care.

Accurately measuring the cost of treating a condition and relating that cost to the patient's outcome is at the heart of value-based health care. Institutions that have adopted this model have reaped savings of 20-40% on their overall cost of care. Unfortunately, today's siloed IT systems are fundamentally at odds with this process. Legacy health care solutions come from a fee-for-service world and have reinforced the problem and produced a system with erratic quality and unsustainable costs. Most health care applications today are incremental improvements on these existing systems or are simple digital implementations of antiquated pen-and-paper processes.

Providers wanting to practice value-based health care need value-based software. ORhub creates a value-based solution that will revolutionize surgical care delivery by tracking the cost of treating a condition from diagnosis to discharge, and tracking outcomes that resulted from that treatment.

ORHub creates a new category of healthcare IT Vertical Specific Software known as surgical Resource Management. It offers enhanced capabilities over traditional EHR solutions in the operating room.

 


Leadership

ORhub's leadership team is helmed by Colt Melby, who was appointed CEO in 2016 and has been crucial to developing and executing the company's business strategy. Melby collaborates with a team of professionals who have successfully moved OrHub from concept to production in institutional medicine in less than a year.


COLT MELBY, CEO
Colt Melby was appointed chairman and CEO of the company after the ORHub Asset Purchase. He was an initial Member of ORHub, LLC in November 2015 and served as its CEO. He has had a 30+ year career as a senior level executive in both public and private companies. Melby is an active entrepreneur and investor, taking officer positions when needed. His focus is on high-growth companies, recently in digital health and regenerative medicine.

Since December 2015, Melby has been an independent director on the board of News Beat Social (NBS), a company that is in the process of a Reg A plus IPO. Prior to ORHub and the Company, between 2008 and 2014, Melby served as chairman of the board at CUI Global, Inc. (NASDAQ: CUI), a publicly traded holding company that develops and commercializes Innovative Industrial and Power Technologies. Between 2012 and 2014, Melby also served as vice chairman of the board at Quest Resource Holding Corp (NASDAQ: QRHC) and was the CEO of Earth911 (the predecessor company to QRHC). Previously, Melby financed the acquisition of Smith & Wesson by a public company. He subsequently served as president and chief operating officer of publicly held Smith & Wesson Holding Corporation (NASDAQ: SWHC) from September 2002 to December 2003 and served on the board of SWHC between 2001-2008. Melby has also served in a number of positions within the aerospace industry, most recently with Metal Form, Inc., a privately held aerospace manufacturing company, where he served as president and CEO from 1987 to September of 1999.

 

 

 


ORHub Contact: 
Jason Brown, Shareholder Communications 
jason.brown@orhub.com 
844.545.4508 x 405

Media Relations:
Cathy Loos, Senior Media Relations Specialist
cathy.loos@orhub.com 
347-334-4135

 

 

ORHub, Inc.
627 South Coast Highway
Laguna Beach, CA 92651

 

NetworkNewsWire is a moderator of this board. Please see disclaimer on the NetworkNewsWire website: https://www.networknewswire.com/disclaimer/

 

ORGANIZATION AND OPERATIONS Current Operations On June 30, 2016, pursuant to an Asset Purchase Agreement (the "APA"), MemReg, Inc. (the "Company") acquired all the assets and assumed certain liabilities of ORhub, LLC ("ORhub") including its name, business, technology, website and patents (see Note 3). Immediately subsequent to the closing of the APA, the Company consummated a tax free split-off ("Split-off") of its wholly owned subsidiary, Memorability Registry Corp. ("MRC") to 22 common and preferred stockholders (see Note 4). Under the terms of the APA, the former ORhub stockholders held approximately 88% of the common stock of the Company immediately after the closing of the APA. For accounting purposes, ORhub will be deemed to be the accounting acquirer in the transaction and, consequently, the transaction will be treated as a recapitalization of the Company. Accordingly, ORhub's assets, liabilities and results of operations will become the historical financial statements of the Company and the Company's assets, liabilities and results of operations will be consolidated with ORhub effective as of the date of the closing of the APA. No step-up in basis or intangible assets or goodwill will be recorded in this transaction. (see Note 3). With the acquisition of ORhub and the Split-off of MRC, the Company is now continuing to develop the ORhub System. Initially conceived in 2012, ORhub has developed a proprietary cloud-based application that it believes significantly improves the productivity and accountability of implant based orthopedic and cardiac operations. ORhub's software is 100% cloud-based and will be sold on a subscription basis. ORhub believes that its software's cost will be more than justified by accelerating billing and inventory control. Therefore, users get all the benefit of the productivity and information gains for free. ORhub plans to provide a uniform interface platform for surgery which leverages the power of process and data analytics, providing hospitals and medical device vendors with modeling and predictive analytics that will transform their surgery business and lower the cost of care. ORhub is currently in the last stages of developing it production software and expects to introduce it in production use in September 2016. http://www.otcmarkets.com/otciq/ajax/showNewsReleaseDocumentById.pdf?id=21170

Quantum
ORHB
Current Price
Volume:
Bid Ask Day's Range
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
PlusOneCoin Top Posts
No plusone'd posts yet. Be the first!
PostSubject
#408  Sticky Note It's hard for me to understand this as RandyKCMO 09/18/18 05:36:16 PM
#454   Salesforce is sponsoring a discussion board in DC tomorrow. feelin_it 11/14/18 01:11:04 PM
#453   It's been pretty hard to watch. It's RandyKCMO 11/06/18 04:52:30 PM
#452   Rather quite for a sinking ship. Did everyone TheFINEST 11/06/18 02:59:05 PM
#451   We’re down to $0.21/share. This is complete BS. TheFINEST 11/05/18 02:38:41 PM
#450   52 week low! Tiiiimmmmmbbbeeerrrr! TheFINEST 11/05/18 11:56:11 AM
#449   I wonder, could this bout of driving the logytwo 11/03/18 01:59:05 PM
#448   Told you Colt could give a crap about bonehead41 11/02/18 06:01:01 PM
#447   Just been voting with my feet. ;) RandyKCMO 11/02/18 04:34:05 PM
#446   Have you reached out to anyone at the TheFINEST 11/02/18 02:15:05 PM
#445   Yeah I'm quite discouraged by so this information RandyKCMO 11/01/18 11:03:42 PM
#444   For a company that hasn’t reported a single TheFINEST 11/01/18 09:14:53 PM
#443   Look at what else I found... (recent posts)... RandyKCMO 11/01/18 05:02:42 PM
#442   ORHB INCREASED AUTHORIZED SHARES TO 1 BILLION! RandyKCMO 11/01/18 04:58:30 PM
#441   I'm sorry to say... but so am I. RandyKCMO 11/01/18 04:46:16 PM
#440   Been digging a little deeper to try understand RandyKCMO 11/01/18 04:42:19 PM
#439   Wish I sold this turd awhile ago. TheFINEST 10/31/18 03:18:13 PM
#438   Randy, I am probably wrong on the 15K a feelin_it 10/26/18 03:16:03 PM
#437   It's where they stayed Derpo 10/24/18 04:05:41 PM
#436   Randy, I missed that. feelin_it 10/24/18 01:23:05 PM
#435   We are paying for it... bonehead41 10/24/18 11:57:01 AM
#434   Hey Fillin_It... RandyKCMO 10/24/18 11:36:43 AM
#433   Thanks for the clarification. I'm hoping for RandyKCMO 10/18/18 06:38:03 PM
#432   Randy, I was Shocked at the 9+ mil feelin_it 10/18/18 01:21:17 PM
#431   Just did a bit of digging. By RandyKCMO 10/18/18 12:48:52 PM
#430   I hope so. What is really like to TheFINEST 10/17/18 05:41:10 PM
#429   It's a crazy deal. I've been a RandyKCMO 10/17/18 01:37:57 PM
#428   $0.07 below the warrant price. What gives? TheFINEST 10/17/18 12:53:14 PM
#427   Must be so... logytwo 10/11/18 10:51:35 AM
#426   Market isn’t liking the news, as we currently TheFINEST 10/11/18 10:41:46 AM
#425   ORHub Announces Signing of Cooperation Agreement with Alvarado logytwo 10/09/18 09:56:39 AM
#424   Thats funny...... We're all Gods people logytwo 10/03/18 11:16:54 PM
#423   I don't generally cheer for Baptists, but in RandyKCMO 10/03/18 09:08:52 PM
#422   Looks like the Baptists in Jacksonville are all in...... logytwo 10/03/18 10:53:53 AM
#421   More news today, I think of this one logytwo 10/02/18 03:23:41 PM
#420   Want to get excited, but the PPS isn’t performing. TheFINEST 10/02/18 02:16:32 PM
#419   Doin' just fine, follow the news. Look at logytwo 09/28/18 10:33:34 PM
#418   Front man needs to do good. The PPS TheFINEST 09/28/18 03:14:16 PM
#417   Front man has to look good. logytwo 09/28/18 11:22:19 AM
#416   Colt must be getting his hair colored and bonehead41 09/28/18 09:27:58 AM
#415   They need to report revenue. TheFINEST 09/27/18 12:58:51 PM
#414   More great news today and not alot of interest. logytwo 09/26/18 08:33:50 PM
#413   Wish the greater market could see the potential. TheFINEST 09/24/18 02:17:56 PM
#412   ZONKS! I'm biased but this sounds pretty RandyKCMO 09/24/18 08:33:43 AM
#411   Not a big volume day today for ORHB... RandyKCMO 09/21/18 03:37:00 PM
#410   Who knows for sure, but today's traded actually RandyKCMO 09/19/18 11:47:27 AM
#409   Continuing to drop, now below the warrant exercise TheFINEST 09/19/18 11:29:30 AM
#408   It's hard for me to understand this as RandyKCMO 09/18/18 05:36:16 PM
#406   What is happening here? We are tanking. TheFINEST 09/18/18 01:35:27 PM
#405   IBOX Updated... RandyKCMO 08/15/18 03:00:57 PM
#404   News Today August 15, 2018 RandyKCMO 08/15/18 02:24:40 PM
PostSubject