When a famous restaurant like burrito chain Chipotle has a foodborne illness outbreak like it suffered through in recent months, the story gets widely publicized, and understandably, deters consumers. However, what people are less aware of are all the other potential health risks that can occur at places like restaurants, hotels and other other venues.
For example, last year the U.S. Centers for Disease Control and Prevention warned about an increasing number of parasitic infections linked to swimming pools and water playgrounds. The answer to avoiding potential threats is as simple as being informed.
Companies such as HealthSpace Data Systems Ltd. (CSE:HS) (Frankfurt:38H) (OTC:HDSLF), are doing something about it within the healthtech industry by partnering with different health authorities across North America to keep the public properly educated about inspection reports.
Founded two decades ago in 1998 by health inspector John Halstad and database guru Andrew Price, the company has moved into many verticals, including cannabis and blockchain technology all built upon its core competency as an expert in providing inspection, information, communication and data management systems for federal, state, county and municipal governments.
Currently, the company calls more than 300 state and local government agencies clients, while boasting a 100% retention rate throughout its history.
Recently, HealthSpace built upon its existing relationship with the Oregon Health Authority to assist in identifying health violation trends. Using a public-facing portal, people will be able to easily find inspection reports for the roughly 25,000 state-licensed facilities, including restaurants, mobile food trucks, vending operations, swimming pools, spas, hotels, parks, and camps.
"For the first-time people can get inspection results for every licensed facility in the state," said David Martin, Foodborne Illness Prevention Program coordinator at the OHA Public Health Division, in the news release on the program's rollout.
In total, HealthSpace now hosts over 40 such websites across North America providing public access to inspection results. Most recently, HealthSpace launched an innovative solution aiming to improve food service quality and reduce foodborne illnesses.
The company partnered with data analytics solutions provider Keboola Data Services and customer engagement software provider Xotec Solutions Corp. to enhance HealthSpace's current self-inspection solution, branded HealthSpace CS Pro by creating a new comprehensive regulation process.
Through the new app, restaurant owners will be able to compare and track their internal health and safety practices with data analytics from government regulators in addition to feedback from customers.
HealthSpace says its working with some of its government health department clients on a pilot project to encourage restaurants to integrate the HS CS Pro platform into their current quality control program, giving the restaurant owner a better view of the full spectrum of their business.
As regulators conduct inspections, the results are immediately uploaded to the app for management to compare and contrast to internal controls and observations made by inspectors.
Overall, the app should not only improve daily restaurant practices and improve public safety but also save restaurants the expense of outside auditors by better aligning them with regulators. By incorporating the customer engagement component of the app, restaurants can improve the customer experience, relations and communications with respect to specials and loyalty programs.
Joe Willmott, President of HealthSpace, succinctly summed-up the potential for the app. He states that, "this is the first application that combines internal audits with health inspections and customer experience to provide a complete, operational picture for food service managers in what is a $900-Billion industry in North America alone."
This is a logical progression for HealthSpace, who obviously has deep roots in the regulatory segment and last year started making inroads penetrating the restaurant industry with a contract with LB Steak, marking its first food and beverage, software-as-a-service customer.
HealthSpace says it is already looking down the road to developing a blockchain-inspired HS CS Pro that will result in a blockchain network capable of delivering advanced analytics that both regulators and private industry operators will need inside of a distributed network.
With all of this in tow, the little-known company is still commanding a price tag of only 9.5 cents per share, equating to a market capitalization of under $13 million. We wonder how long this valuation will last?
