On May 12, 2014, STI will publish an updated version of its corporate Privacy Policy.

STI Technologies Limited respects your concerns about privacy and takes the protection of information very seriously. That commitment to our users won’t change.

Here is a quick overview of the changes:

  • To assist you in making an informed decision when using our site and services, we’ve rewritten our policy with clearer language.
  • We’re adding a Customer Service section. In a nutshell, it means that if you contact our customer service team, we will retain some basic information, for example, your name and phone number, so we can better serve you should you reach out again.  
  • To reflect how we may use content for marketing (or other) purposes, we're adding a Social Media and Website section.
  • In addition, we’re including a section on Google Analytics, which we will use to monitor our website’s traffic. (Learn more about Google Analytics.)

We don’t sell your personal information to third parties and we comply with all Canadian federal and provincial privacy laws.

We believe that it is essential for you to always feel informed and empowered with respect to your information. If you have any questions about these updates, please contact us at 1-877-790-1991 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

If you would like to view our existing Privacy Policy, please click here.

Anticipating Growth at Homegrown Health-Care IT Company, STI

Nova Scotia Business Inc.

March 7, 2014 - STI provides over a million patients in Canada with more choice in their medications and is now looking to expand even more.

From a three-person start-up company, to helping millions of patients save money on their brand name prescriptions, STI Technologies Inc. is a local company providing comprehensive technology and solutions that benefit patients, doctors, pharmacies and drug manufacturers across Canada. 

"The talent in Nova Scotia is world class and we've built our success on creating numerous challenging and rewarding career opportunities for both those who wish to remain in the region, as well as those who want to come and live here," said Steve Nicolle, chief executive officer, STI Technologies Limited.

STI is gearing up to expand and has signed a five-year incentive agreement with Nova Scotia Business Inc. (NSBI) to encourage the company's investment and employment choices to happen in Nova Scotia. 

To start, STI must create at least seven full-time equivalent positions in the first year of the agreement. Once that happens, the company is eligible to earn a rebate on the payroll it spent creating the new positions. This rebate applies to new positions between the minimum of seven and maximum of 48. 

STI will add over $9 million in salary costs if the company creates 48 new positions. Employees would then pay provincial personal income taxes of about $1.13 million. As a result, the company can earn up to $669,320 in payroll rebates through NSBI's Strategic Investment Funds. 

"Our market is the Canadian pharmaceutical industry, which is concentrated in Toronto and Montreal. This NSBI payroll rebate will allow us to continue to add even more jobs here in Halifax and overcome some of the challenges that represents to our competitive situation," said Mr. Nicolle.

The venture-backed company currently employs more than 50 people, including software engineers, sales and marketing professionals, and a variety of other head-office personnel. STI's unique business approach has been successful in attracting professionals to Nova Scotia to live and work, in addition to hiring an equal number of new graduates of Nova Scotia universities; making up over 40 per cent of their current workforce. 

"STI is a tremendous example of home-grown entrepreneurship, with the majority of its leadership team having Dalhousie heritage", said Ed Leach, assistant professor and director of the Norman Newman Centre for Entrepreneurship, Rowe School of Business, Dalhousie University. "The region needs more companies like STI with a proven track record of cultivating a new generation of entrepreneurs, by providing rewarding job opportunities here in Atlantic Canada for our co-op students and graduates in business, computer science, and health sciences."

STI offers intelligent reimbursement programs that help patients save money on many prescription medications. STI's programs broaden access and choice to medications and healthcare products for all Canadians, making them a leader in the healthcare industry. 

For more information on STI and new job opportunities, visit www.smartsti.com or email the company directly at This email address is being protected from spambots. You need JavaScript enabled to view it. .

innoviCares launches app to help improve patient choice and health outcomes

HALIFAX, Dec. 3, 2013 - STI, the leader in intelligent reimbursement solutions for the Canadian healthcare market, releases the innoviCares app, designed to promote personal healthcare management and improve adherence to prescribed medications, available at the iTunes store for all registered innoviCares members.

InnoviCares offers additional coverage for many original brand name medications and healthcare products and is provided to patients at no cost by STI, in partnership with participating pharmaceutical manufacturers. For many of the participating products, innoviCares provides members the choice to stay on original brand name medications. The newly released iPhone app gives members a digital version of their card and provides them with useful features, like easily actionable prescription refill alerts.   These reminders are based on real intelligence driven from prescription possession data.

"Our hope is that Canadians take prompt and proper action when managing their healthcare. Adherence to prescribed medications equals better patient outcomes and reduced overall costs.  The innoviCares iPhone app is a simple tool that can assist patients in this regard." says Dave Gallson, Associate National Executive Director for the Mood Disorders Society of Canada.

In addition to the adherence alerts, other notable features include a pharmacy locator that maps the nearest preferred pharmacy who can serve the patient best, personalized benefits and savings, and an up-to-date list of what products are covered on the card.  Patients simply bring their innoviCares card to their pharmacy when filling a prescription and the card works similar to their drug insurance card, providing coverage on participating products.

"I have a chronic condition that requires frequent prescription refills that I use my innoviCares card to save a substantial cost difference for," says Michel Roy, a Quebec patient. "Knowing what pharmacies are going to serve me best is invaluable."

The innoviCares program was launched early this year, showing great early traction with over 400,000 members using the program across Canada. There are currently over 55 different products covered on the program, including diabetes products, chronic pain medications and cancer drugs, along with dozens of other original brand name medications such as Imovane, Wellbutrin XL, Crestor, Nexium, Pantoloc, and Altace. This program is provided at no cost and patients can get a card by visiting www.innovicares.ca. The innoviCares app is currently available to innoviCares members for the iPhone and can be downloaded from the iTunes store.

STI was featured in The Globe & Mail's Special Report on The Future of Prescription Drugs with a full page ad and page of editorial content on patient choice and innoviCares. The editorial includes interviews with patients, physicians, patient advocates and STI's CEO, Steve Nicolle. The ad and article are part of the 8 page Special Report which is included in every Globe & Mail newspaper across Canada. To view the PDF of the article, Click Here.

 

Shareholders Approve Imperial Capital’s Investment in STI Technologies Limited

HALIFAX – September 25th, 2013 - STI, the leader in intelligent reimbursement solutions for the Canadian healthcare market, is pleased to announce shareholder approval of a plan of arrangement that will result in Toronto-based private equity firm, Imperial Capital Group, investing over $17 million dollars in the company.

The transaction, which represents one of the largest investments recently made in the region, is still subject to court approval but received overwhelming shareholder approval after a special shareholders meeting that took place on Monday, September 23rd in Halifax. Many of the company’s early investors, including GrowthWorks Atlantic Fund, are selling their shares and receiving an attractive return on their original investment.     

“An investment of this caliber doesn’t happen every day,” says Milan Vrekic, Executive Director at Volta Labs. “STI is a home-grown success story and a testament to the spirit of innovation and perseverance in Atlantic Canada.”

The investment in the Halifax-based company comes during a time of substantial growth and will provide the capital and strategic resources to accelerate its expansion.

“We are very excited about our partnership with STI,” says Justin MacCormack, Partner, Imperial Capital. “STI is a profitable and highly scalable technology company playing an important role in the Canadian healthcare industry. As their partner, we look forward to assisting management in the execution of the company’s strategic vision.”

STI is the largest intelligent reimbursement card provider to the Canadian healthcare industry, implementing innovative programs on behalf of major pharmaceutical and patient assistance companies. The company’s newest program, innoviCares, is one of the influential factors accelerating the 50-person company’s growth. InnoviCares provides members with the choice to stay on brand name medication at the generic price and offers savings on many other healthcare products.

Existing customers of STI are also expressing their positive reaction to the news, including Jeffery Sleep, Senior Marketing Manager at AstraZeneca Canada, saying, “As a long-standing partner of STI, we see the innovative solutions and value they deliver in our health care system  - empowering greater choice amongst health care professionals and patients, and ultimately improved outcomes for Canadian patients. Today’s announcement is great news for health care professionals and patients. It is an opportunity to create new solutions, expand their reach and make an even greater health care impact.” 

“We’re thrilled to have found a partner in Imperial Capital, they have a solid track record and are aligned with us on our vision. Their investment represents a win for shareholders, the company and its employees, our customers, as well as the millions of beneficiaries of our programs.” says Steve Nicolle, CEO, STI Technologies Limited. Over the next few years, we plan on further expanding our services and reach into new areas of healthcare.”

 

Media Contact:

Mary Jane Leslie

902-499-2797

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About Imperial

Founded in 1989, Imperial Capital is a Toronto-based private equity firm with a strong track record of acquiring and building entrepreneurial and family-owned businesses in the Canadian and American middle markets.  Imperial Capital works with high-calibre management teams and industry-experienced CEO Partners to accelerate growth and enhance the operating performance of its portfolio companies.  Imperial Capital’s current investments include Schulman Associates Institutional Review Board, Inc. (pharmaceutical services), Petra Pet, Inc. (owner of Beefeaters®, Petra Vet®, and Nutri-Vet®; pet treats, consumables, and nutraceuticals), Lise Watier Cosmétiques Inc. (cosmetics, skincare, and fragrances), and Workplace Health and Cost Solutions Ltd. (employee health and other services). Imperial Capital is currently fundraising and investing from its fifth fund which has closed commitments of over $250 million and has total assets under management of over $500 million.

www.imperialcap.com

 

Media Contact:

Imperial Capital Group Ltd.

Justin MacCormack

(416) 362-3658

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