STI Technologies ranks No. 5 on Progress magazine’s 2014 Fastest Growing Companies list

Halifax, N.S. (Dec. 2, 2014) — Progress magazine has ranked STI Technologies Limited No. 5 on its 2014 Fastest Growing Companies list. Now in its 15th year, the list is a highly anticipated ranking of Atlantic Canadian companies that have reported the most significant increase in revenues over the past three years. These companies are setting the pace for the new economy, not just regionally but also nationally.

In 2011 STI Technologies Limited was ranked No. 24 of all companies, with a 37% three-year growth rate. Last year it was No. 7 of companies with less than $25 million revenue, with an 83% growth rate. In 2013 the company was again No. 7, with an impressive 113% growth rate.

“I give the credit for our continued growth to our people,” said incoming CEO Tim Gillis, the former CFO and VP operations. “In 2014 we made several new hires, including at the senior level, which allowed us to deepen our relationships with our clients so they could better see our overall level of sophistication and capabilities. To maintain a growth trajectory in the future, we plan on continued technology and marketing investment, all the time spreading the word about STI and how our programs lead to healthier Canadians.”

STI Technologies Limited connects physicians, patients, pharmacy and pharmaceutical companies with a variety of intelligent reimbursement and data programs that ultimately improve patient outcomes. The Halifax-based company facilitates valuable interactions between each of these four distinct groups, using an advanced patient-centric technology platform to power all of its solutions. Visit smartsti.com to learn more.

The Fastest Growing Companies come from a wide array of sectors. The ones reporting the most rapid growth are in innovation, IT, aerospace and defence, ocean technology and hospitality. “Even companies that are experiencing 40% growth are showing us that a spike in sales in possible, even in challenging markets,” says Progress publisher Neville Gilfoy. Visit progressmedia.ca to learn more.

For more information, please contact:
Erin Solomon, marketing associate
STI Technologies Limited
(902) 442-2071
 and (902) 877-1849

This email address is being protected from spambots. You need JavaScript enabled to view it.

Gillis to Succeed Nicolle as Chief Executive Officer of STI Technologies Limited

Halifax, Nova Scotia, Canada (October 31, 2014)

Steve Nicolle, CEO of STI Technologies Limited (STI) will be stepping down from his role at the end of the year. Effective January 1, 2015, Tim Gillis will be succeeding Mr. Nicolle, who will continue to serve on the Company’s Board of Directors.

Having worked for STI since 2010, Gillis currently holds the positions of Chief Financial Officer and Vice President of Operations. “Tim has worked closely with me for the past 4 years and knows the business extremely well. Together we completed one of the largest investments in the region with a $17M investment from Imperial Capital Group in 2013,” said Mr. Nicolle.

Nicolle has been CEO of STI since 2010 and has overseen the Company’s significant growth from a local start-up to one of Canada’s leading healthcare IT companies. “Under Steve’s leadership, STI’s revenue has grown by over 500%, and the company has been recognized for four consecutive years as one of the Best Companies to Work in Atlantic Canada,” said Mr. Gillis.

Diagnosed with Multiple Sclerosis in 2012, Nicolle is passionate about the patient support programs that STI creates for pharmaceutical companies. “Now being one of 100,000 Canadians with MS, I appreciate first-hand how important it is to have access to the best medications available”, said Nicolle, “My MS was a catalyst for the timing of this decision but the transition of leadership to Tim Gillis was planned well before my diagnosis.”

Formerly, Gillis held senior positions with a number of successful companies including Stantec, Ernst & Young, Clarke Inc., and Clear Picture Corporation and has been active in our community as a former board member of Halifax’s United Way for nearly 10 years. “We build the most innovative programs to connect patients to their health care and medications,” said Gillis, “The future of the Company is to build on these initiatives with our pharmaceutical partners; further improving health care in Canada – one patient at a time.”

“Tim’s credentials speak for themselves. He is the right person to take STI to the next level”, said Justin MacCormack, head of Healthcare Investing for Imperial Capital and a member of STI’s Board of Directors.

 

Contact:
Erin Solomon, Marketing Associate
Tel: (902) 442-2071
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

About STI Technologies Limited
STI Technologies Limited is the largest intelligent reimbursement solutions provider to the Canadian healthcare industry, implementing innovative programs on behalf of major pharmaceutical companies. STI’s flagship solution, innoviCares, is a free supplementary benefit plan that provides coverage for nearly 100 medications and healthcare products, providing patients with greater choice and access. InnoviCares covers up to the difference in cost between many brand-name medications and their generic alternatives.

www.smartsti.com

www.innovicares.ca  

 

Choice in Medications Improves Patient Outcomes

HALIFAXMay 15, 2014 /CNW/ - InnoviCares, Canada's only free multi-drug manufacturer patient benefit plan, marked their 600,000 member on April 28, 2014, and their participation rates show signs of acceleration through increasing partnerships and widespread patient satisfaction.

"We are extremely pleased with the growth of innoviCares. Since its launch in January 2013, innoviCares has already grown to bring together 18 different drug manufacturers and nearly 100 products covered," said Steve Nicolle, CEO of STI Technologies Ltd, innoviCares parent company. "By complementing public and private drug plans through greater access to original brand name medications, we are improving health outcomes and adherence rates for many patients, and at no additional cost to them."

Employers, associations, physicians, and pharmacists have widely embraced the program, and for countless patients innoviCares offers significant financial savings and stability in their healthcare.

STI Technologies Limited was recently visited by Troy Wellington, an innoviCares member from Barrie, Ontario, who stressed the positive impact that the plan has had in his family's life. "You don't think that something so small could make such a big, drastic change in a person's life, but it did. Emotionally stable, mentally stable, physically stable... The financial burden was lifted from my wife's shoulders for those medications."

InnoviCares supports a patient's choice to remain on original brand name medication by paying towards the cost difference between brand and the generic alternative.

"Reaching out for medical assistance when a person has reasons to believe they may be experiencing mental health concerns is extremely important," says Dave Gallson, Associate National Executive Director for Moods Disorders Society of Canada. "Working with your Doctor or healthcare professional, proper diagnosis and a care plan which often includes finding the appropriate medication can make a significant impact in a patient's continued health and well-being.  Thanks to innoviCares, patients have access to brand medication at the same price of a generic."

To view "Troy's Story" visit:
https://www.youtube.com/watch?v=_n8OmfvIY7I

For more information visit
www.innovicares.ca
www.mooddisorderscanada.ca

SOURCE STI Technologies Limited

Video with caption: "Video: Diagnosed with Bipolar Schizoaffective disorder in 2010, Troy Wellington could no longer afford the out-of-pocket costs for his prescribed medication that had him stabilized, despite facing side effects from the alternate medication covered by his insurance plan. His psychiatrist then introduced him to innoviCares, Canada's only free patient benefit plan, which supports a patient's choice by paying up to the difference between original brand and the generic alternative.". 

Image with caption: "Troy & Sheri Wellington were faced with choosing between medical stability and financial stability until InnoviCares, Canada's only free patient benefit plan, paid the difference between the original brand medication and the generic alternative. (CNW Group/STI Technologies Limited)". Image available at:http://photos.newswire.ca/images/download/20140515_C8225_PHOTO_EN_40339.jpg

 For further information:

Erin Solomon, Marketing Associate, STI
Tel: 902-442-2071
This email address is being protected from spambots. You need JavaScript enabled to view it.

About STI Technologies Limited
www.smartsti.com

 

The corporate STI Technologies Limited Privacy Policy has been updated as of today. These updates will go into effect immediately.

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

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’ve added 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've added 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.

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.

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. .

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