Comprehensive Healthcare Systems Inc. (TSXV: CHS) (OTCQB: CMHSF) has announced a new five-year agreement with the Teamsters Local 237 Welfare and Retirees Benefit Fund to deploy its Novus360(TM) cloud-based administration platform for healthcare benefits and retirement administration. This contract is 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. As noted in the press release, "The company said 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."
Comprehensive Healthcare Systems is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions. Its Novus 360 Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration, including self-funded employers, providers, and labor unions. The company provides healthcare administrative software and technology-enabled services.
This agreement underscores CHS's growing footprint in the multi-employer benefits sector, a market where Taft-Hartley trusts and labor unions seek efficient administration solutions. The Teamsters Local 237 contract serves as a key reference for CHS to expand within the Teamsters network, which could lead to further adoption across the union's 1.3 million members. For more details, visit the full press release at https://ibn.fm/0G5zr.
For more information about Comprehensive Healthcare Systems, visit https://www.comphealthcare.com/.
