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SC Worx Corp (symbol: WORX) is a key player in providing software solutions tailored to enhance the operational efficiency of healthcare providers in the United States. The company specializes in the repair, normalization, and interoperability of information, along with offering robust big data analytics models. These models facilitate the display, reporting, and analysis of comprehensive data sets through sophisticated web portals. SC Worx Corp's suite of services includes:
- Virtualized Item Master File Management: This service focuses on the repair, expansion, and automation of item master files.
- Electronic Medical Record Management: This module integrates advanced data attributes from the item master into electronic medical records.
- Charge Description Master Management (CDM): Assists healthcare providers by incorporating CDM data into the hospital's purchasing systems workflow.
- Contract Management: Facilitates the establishment and management of contracts to ensure efficient patient care.
SC Worx Corp’s innovative software solutions empower healthcare providers to streamline and organize their data, thereby enabling seamless integration across various internal software applications. This integration is critical for sophisticated data analytics, which ultimately supports better decision-making and improved patient care.
Recent achievements include the release of forward-looking statements and new partnerships aimed at enhancing their service offerings. Financially, the company remains committed to leveraging its data content and services to maintain a competitive edge in the healthcare sector.
SCWorx Corp. has announced its upcoming 2024 Annual Meeting of Stockholders, scheduled for December 23, 2024, at 9:00 AM EST. The meeting will take place at the Regus Conference Room in Middleton, MA. The company has already distributed Proxy Materials to shareholders on December 6, 2024.
SCWorx Corp. (Nasdaq: WORX) has successfully regained compliance with Nasdaq's continued listing requirements for periodic reporting. The company, which provides data management services to healthcare providers, had previously received non-compliance notifications from Nasdaq on April 17, May 17, and August 19, 2024, under Listing Rule 5250(c)(1).
Following the filing of their Form 10-K for 2023 and Forms 10-Q for Q1 and Q2 2024 on September 24, October 10, and October 11 respectively, Nasdaq confirmed compliance in a letter dated October 14, 2024. All previous deficiencies have been resolved, and SCWorx's common stock continues to trade on Nasdaq under the symbol WORX.
SCWorx Corp completed an equity financing deal with institutional investors on November 19th, 2024. The company sold 232,558 shares of common stock along with warrants to purchase an equal number of shares, raising $200,000 in gross proceeds. The company plans to register these shares and warrant shares with the SEC for resale. The net proceeds will be used for working capital and general corporate purposes to support future growth.
SCWorx Corp. (WORX) has received a notice of non-compliance from Nasdaq due to its failure to file the Q2 2024 10-Q report by the August 14, 2024 deadline. The company is also delinquent in filing its 2023 10-K and Q1 2024 10-Q. This non-compliance stems from the dismissal of their previous auditor, BF Borgers CPA PC, following an SEC order. SCWorx has engaged a new auditor, Astra Audit & Advisory, , to complete the necessary audits and reviews.
Nasdaq has accepted SCWorx's revised compliance plan, granting an extension until October 14, 2024 to regain compliance with periodic reporting obligations. The company expects to file all delinquent reports by this extended deadline.
On May 17, 2024, SCWorx Corp received a notice from Nasdaq regarding the company's failure to file its Form 10-Q for the quarter ended March 31, 2024, and its Form 10-K for the year ended December 31, 2023. This failure breaches Nasdaq Listing Rule 5250(c)(1), which mandates timely filing of required reports. The delay follows the SEC's order against their previous auditor, BF Borgers CPA PC, leading to its dismissal and the hiring of Astra Audit & Advisory, on May 21, 2024. SCWorx plans to re-audit its 2022 financial statements and submit the overdue filings promptly. The company aims to regain compliance and will submit a plan to Nasdaq by June 17, 2024. Acceptance of their compliance plan by Nasdaq is not guaranteed, and any granted exception will not extend beyond October 14, 2024.
SCWorx Corp. (Nasdaq: WORX) announced the acquisition of a new healthcare provider customer for its SaaS data management services and Workday implementation support. The new client, a non-profit academic hospital in New York with over 400 beds, will utilize SCWorx's Foundation data management platform. This platform enhances the hospital's ability to manage data across supply, clinical, and finance applications, which is crucial for accurate revenue capture. CEO Tim Hannibal emphasized that the quality of data is vital for efficiently implementing Workday as an enterprise resource planning solution. This new partnership highlights SCWorx's growing relevance in the healthcare sector and its commitment to providing high-quality data solutions.
SCWorx Corp. (Nasdaq: WORX) has signed a new healthcare provider based in Texas to utilize its SaaS service offering. This provider, managing nearly 8,000 beds, aims to tackle the prevalent data management issues in hospitals. SCWorx's innovative service allows hospitals to customize their solutions, providing foundational data management to address challenges faced during the post-Covid era. The CEO emphasized the uniqueness of this approach, indicating a significant move towards operational efficiency and accurate healthcare data management.
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