SCWorx Corp. announced the signing of a 2-year service agreement extension with a highly Integrated Delivery Network (IDN) in the United States. This current customer was previously contracted for a 1-year $450,000 service agreement for SCWorx's data management solutions that repairs and connects supply chain, financial and clinical attributes.

This new service agreement is effective January 1, 2022 and will extend the agreement through the end of 2023 and includes additional services for Oracle Cloud. The new service agreement increases previous anticipated revenue to a total contract value of $960,000 over the term of the new contract (of which $135,000 was recognized in the first quarter of 2022). The Company does not expect to incur any significant additional overhead resulting from this contract and anticipates procuring new contracts for its software by numerous other healthcare providers in the foreseeable future.