SCWorx Subsidiary Direct Worx Sources One Million Surgical Masks for Existing Large Hospital Customer to Help Maintain Safety for Healthcare Providers Treating Patients Affected By COVID-19 Pandemic

NEW YORK, March 27, 2020 (GLOBE NEWSWIRE) -- With the COVID-19 pandemic escalating in the U.S., SCWorx Corp. (Nasdaq: WORX) announced today an agreement between its subsidiary Direct Worx and an existing large hospital customer to supply one million surgical masks, which were fulfilled and shipped yesterday. The initial agreement was for $390,000, with additional potential agreements to help hospitals source urgently needed Personal Protective Equipment (PPE) are anticipated.

“Hospitals are quickly running out of surgical masks and other PPE as the number of COVID-19-infected patients accelerates beyond hospitals’ ability to procure needed PPE to protect patients, doctors, nurses and other hospital personnel treating infected patients,” said Marc Schessel, CEO of SCWorx. “Our subsidiary, Direct Worx utilizes our extensive hospital networked access to supply chain resources to enable us to help hospitals successfully source the PPE they urgently need, positioning us for accelerated growth as a leader in this space. We are working diligently with our hospital customers to rapidly secure necessary PPE, especially during this demanding time, and we expect to announce similar agreements as the pandemic spreads.”

About SCWorx Corp.

SCWorx has created The Ultraverse Platform™, an advanced attributed virtualized item data warehouse (“VDW”) utilizing machine learning and artificial intelligence in order to offer a suite of software-as-a-service based solutions for healthcare providers. The value proposition for customers revolves around all solution modules being fully integrated with the VDW platform. The solution modules include Virtual Item Master, contract management and request for pricing (RFP) module, automated rebate management module, data interoperability (EMR, MMIS, finance) module, Automated Item Add Portal, Virtual General Ledger, and the data analytics module. SCWorx’s Ultraverse Platform™ creates a single source for information for healthcare providers’ data governance and data analytics for executives.

Forward-Looking Statements

This press release contains “forward-looking statements” that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, future financial position, prospects, plans and objectives of management are forward-looking statements. You can identify many (but not all) such forward-looking statements by looking for words such as “assumes,” “approximates,” “believes,” “expects,” “anticipates,” “estimates,” “projects,” “seeks,” “intends,” “plans,” “could,” “would,” “may” or other similar expressions. You should not place undue reliance on these forward-looking statements. Such statements are based on management’s current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, securing future contracts and containing costs, the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient resources of the company to meet its business objectives and operational requirements and other important factors that are detailed in filings with the Securities and Exchange Commission made from time to time by SCWorx, including its Annual Report on Form 10-K for the year ended December 31, 2018, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Matters described in forward-looking statements may also be affected by other known and unknown risks, trends, uncertainties and factors, many of which are beyond the company’s ability to control or predict. SCWorx undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contacts:



Marc Schessel



Investor Contact:



Scott Gordon

President

CORE IR

516 222 2560

Media Contact:

Jules Abraham

Director of Public Relations

CORE IR

917-885-7378