SCWorx Announces New Customer Service Agreement Total Contract Value of $785,000

NEW YORK–(BUSINESS WIRE)–SCWorx Corp. (f/k/a Alliance MMA, Inc.) (Nasdaq: WORX) announced today
it was contracted by a prominent New England based acute care specialty
hospital to provide its data governance and analytics suite of
application solutions. The contract is for 3 years with an annual
license and maintenance fee of $220,000 and a one-time consulting fee of
$125,000, for a total initial contract value of $785,000. Of greater
significance, the Hospital Group has agreed to become a Member of a
larger group of prominent Healthcare Providers (representing in
aggregate more than 150 Hospital based Providers) that are dedicated and
energized to develop a first of its kind industry catalog of all things
used in the service of patient delivery and hospital operations.
Utilizing SCWorx’s health care focused data governance tooling along
with SCWorx’s self-developed, proprietary tool, that, combined with
machine-learning (AI) embedded code, creates the requisite
Trans-Mutational Business LogicTM (TBLTM) that
allows a Developed Catalog Item (item contains over 70 individual and
unique attributes that deliver value to materials, finance and clinical
teams) to be self-aware of its an environment and modify automatically
to suit the unique and granular rigors of an individual end-user
department, SCWorx and the hospitals involved (the Catalog
Collaborative) are convinced that the ultimate catalog will not only
address, but solve, many of the most complex business issues being faced
by all Healthcare Providers today. The Company does not expect to incur
any additional overhead resulting from this contract. The contract could
be terminated after 2 years in limited circumstances and allows for up
to 3 additional 1 year renewals.

“After an in-depth review by this specialty acute-care hospital located
in New England, the SCWorx team is very excited to announce a 3 year
service agreement for the delivery of an enterprise wide, data
governance and analytics solution with this significant leader in the
healthcare industry.” said Marc Schessel, CEO of SCWorx, “We greatly
appreciate the confidence bestowed on our services and team to deliver
enhanced data services and margin improvement solutions. Our experience,
focus and commitment in delivering critical data management services to
healthcare providers will greatly benefit this hospital through enhanced
efficiency, critical system interoperability, sustained long-term
savings, and auditable margin improvement.”

About SCWorx

SCWorx offers an advanced software solution for the management of health
care providers’ foundational business applications. Together these
software systems have been credited with the healthcare providers’
customers tending to realize reduced medical expenses, while healthcare
providers have tended to experience expanded revenues and more
successful and safer clinical outcomes. The SCWorx software solution
ultimately transforms many aspects of the healthcare providers’ business
through its delivery of highly accurate, real-time information that
offers the executives of these healthcare providers the ability to
optimize many areas of their day-to-day operations, negotiate better
contracts with their vendors and payors and make better decisions with
respect to strategic purchases.

Forward-looking Statements

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substantial risks and uncertainties for purposes of the safe harbor
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statements, other than statements of historical facts, included in this
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forward-looking statements. Examples of such statements include, but are
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Actual results and performance could differ materially from those
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including, without limitation, the ability to project future cash
utilization and reserves needed for contingent future liabilities and
business operations and the availability of sufficient resources of the
combined company to meet its business objectives and operational
requirements.

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Contacts

John Price, CFO
jprice@scworx.com

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