Comprehensive Healthcare Systems Inc. Signs Memorandum of Understanding with Large Health Insurance Administrator for a Five-Year Partnership

Rhea-AI Summary

Comprehensive Healthcare Systems (OTC: CMHSF) signed a non-binding Memorandum of Understanding on August 12, 2025 with a large Taft‑Hartley multi‑employer health benefits administrator for a five‑year partnership. The MOU outlines collaboration on software, technology implementation, service delivery and integration to support full‑scale deployment of CHS's Novus360 benefits and pension administration suite.

The company said contractual details are being finalized and a definitive agreement and implementation timeline are expected in the coming weeks, with further contract details to be released in a future press release.

Vancouver, British Columbia--(Newsfile Corp. - October 15, 2025) - Comprehensive Healthcare Systems Inc. (TSXV: CHS) (the "Company" or "CHS"), an industry leader in healthcare benefits administration software and services, is pleased to announce the signing of a non-binding Memorandum of Understanding (MOU) with a large health insurance benefits administrator in the Taft Hartley Multi-Employer Union space. This agreement outlines a strategic five-year partnership aimed at driving innovation, improved operational efficiency, and measurable growth for both parties. The MOU was formalized on August 12, 2025.

The MOU serves as the foundation for detailed contractual agreements, which will include specific project planning for software and technology. The company has been working diligently over the last few weeks on the agreement which is expected to be finalized in the coming weeks, setting the stage for a full-scale implementation of the company's Novus360 solution. Further details of the contract are expected to be released in a future press release.

Under the terms of the MOU, CHS will collaborate closely with this new client to deliver its Novus360 suite of healthcare benefits and pension administration solutions, technology implementation, service delivery and integration support. This agreement affirms both organizations' commitment to leveraging advanced technology, industry expertise, and shared resources to achieve mutual objectives.

"This MOU marks a significant milestone for our growth strategy and underscores the trust that this large organization has placed in us," said Chris Cosgrove, CEO of Comprehensive Healthcare Systems. "Over the next five years, we look forward to working together to deliver results that will transform how our new client will deliver healthcare benefits and pension administration and set new benchmarks for success in the industry."

About Comprehensive Healthcare Systems Inc.

Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction-capable systems. The Company's state-of-the-art 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), providing healthcare administrative software and technology-enabled services.

FORWARD-LOOKING INFORMATION:

The press release contains "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: "anticipate", "intend", "plan", "budget", "believe", "project", "estimate", "expect", "scheduled", "forecast", "strategy", "future", "likely", "may", "to be", "could", "would", "should", "will" and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and conditional. These forward-looking statements are based on assumptions as of the date they are provided. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

Additionally, there are known and unknown risk factors that could cause the Company's actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements, include among others: general economic, market and business conditions in Canada and globally; market volatility; unforeseen delays in timelines for any of the transactions or events described in this press release; and the risk of regulatory changes that may impact the business of the Company. All forward-looking information is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking statement or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Service 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:
COMPREHENSIVE HEALTHCARE SYSTEMS INC.
Chris Cosgrove, Chief Executive Officer
E-mail: chris.cosgrove@comphealthcare.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270478

FAQ

What did Comprehensive Healthcare Systems announce on October 15, 2025 regarding CMHSF?

CHS announced it signed a non‑binding MOU dated August 12, 2025 for a five‑year partnership with a large Taft‑Hartley benefits administrator to deploy its Novus360 solution.

Is the five‑year partnership for CMHSF final and binding?

No; the announcement describes a non‑binding MOU that frames future contractual agreements expected to be finalized in the coming weeks.

What will CMHSF deliver under the proposed five‑year agreement?

CHS will collaborate to provide its Novus360 healthcare benefits and pension administration suite, technology implementation, service delivery and integration support.

When was the MOU between CMHSF and the health administrator formalized?

The MOU was formalized on August 12, 2025.

What timeline did CHS give for finalizing the definitive contract for CMHSF?

The company said it has been working on the agreement and expects the definitive contract to be finalized in the coming weeks, with further details to follow in a future press release.