Comprehensive Healthcare Systems Wins Teamsters Union Benefits Administration Contract
Rhea-AI Summary
Comprehensive Healthcare Systems (OTCQB: CMHSF) signed a new five-year benefits administration contract with the Teamsters Local 237 Welfare and Retirees Benefit Fund, its third new five-year agreement in six months.
These three contracts total about US$12.1 million and are expected to add roughly US$2.4 million in average annual revenue, lifting CHS’s order book to approximately US$27 million. CHS will deploy its Novus360 cloud platform to support healthcare and retirement administration for Teamsters Local 237, which serves around 25,000 active members and 7,000 retirees.
Positive
- Three new five-year contracts total about US$12.1 million in value
- New contracts expected to add about US$2.4 million in average annual revenue
- Order book increases to approximately US$27 million of signed contracts
- Teamsters Local 237 contract adds large union client with over 32,000 members and retirees
- Novus360 platform selected to support both healthcare and retirement administration
Negative
- None.
News Market Reaction – CMHSF
In the Jun 25 session, CMHSF gained 5.59%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Agreement with Teamsters Local 237 contributes to US
Calgary, Alberta--(Newsfile Corp. - June 25, 2026) - Comprehensive Healthcare Systems Inc. (TSXV: CHS) (OTCQB: CMHSF) (the "Company" or "CHS"), an industry leader in healthcare benefits administration software and services, today announced the signing of a new five-year agreement with the Teamsters Local 237 Welfare and Retirees Benefit Fund, one of the largest Teamsters-affiliated benefit organizations in the United States.
The agreement further expands CHS's presence within the Taft-Hartley and multi-employer benefits market and represents the third new five-year contract signed by the Company over the past six months. Collectively, these three agreements represent approximately US
When implemented, these agreements are expected to collectively generate, on average, additional revenue of approximately US
Following the signing of the Teamsters Local 237 agreement, CHS's estimated value of signed contracts with all existing clients, or its order book, now stands at approximately US
"This agreement reflects the growing demand for modern administration technology among union-sponsored health and retirement plans," said Chris Cosgrove, Chief Executive Officer of Comprehensive Healthcare Systems. "Teamsters Local 237 is a highly respected organization serving tens of thousands of members and retirees, and we believe this partnership further validates the strength of our Novus360 platform."
Under the agreement, CHS will deploy its Novus360 cloud-based administration platform to support healthcare benefits and retirement administration functions, providing enhanced automation, workflow management, compliance oversight, reporting, and member services capabilities.
Teamsters Local 237 is one of the the largest Teamsters local union in the United States, representing approximately 25,000 active members and more than 7,000 retirees across New York City municipal agencies, public-sector organizations, healthcare institutions, educational facilities, and related public services.
The Teamsters agreement is strategically significant for CHS as it establishes an important reference client within the broader Teamsters ecosystem. The International Brotherhood of Teamsters represents approximately 1.3 million members across the United States and Canada. CHS's management team believes that successful implementation of the Novus360 platform positions CHS to pursue additional opportunities among Teamsters-affiliated health, welfare, pension, and retirement funds.
"The market opportunity for CHS continues to expand as unions, benefit funds, and third-party administrators modernize aging technology infrastructure," said Mr. Cosgrove. "Many organizations are seeking to reduce administrative complexity while improving service levels and regulatory oversight. We believe CHS is uniquely positioned to capitalize on these trends through our integrated Novus360 platform, and we continue to anticipate strong demand from both existing relationships and new inbound opportunities."
As one of a select group of providers offering fully integrated healthcare and pension benefits administration solutions, CHS continues to benefit from favorable industry tailwinds and growing demand for scalable cloud-based administration platforms.
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 the U.S., 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, and risks and uncertainties described in the Company's reports and filings with the applicable Canadian securities administrators on its profile on SEDAR+ at www.sedarplus.ca. 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
Phone: 1-732-362-2010
Investor Relations Contact:
Dave Gentry, CEO
RedChip Companies, Inc.
1-800-REDCHIP (733-2447)
1-407-644-4256
CMHSF@redchip.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302816