SCWorx Corp. (WORX): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how hospitals manage the massive amounts of data required to keep their operations running smoothly? SCWorx Corp. (WORX) offers software solutions designed to improve healthcare processes and information flow within hospitals and other healthcare facilities. But how exactly did SCWorx get its start, who owns it, what's their mission, and, most importantly, how does it all translate into revenue? Keep reading to find out!

SCWorx, based in Tampa, Florida, focuses on healthcare information technology solutions and related services. The company provides software solutions like virtualized item master file repair, electronic medical record management, and big data analytics. For the full year ended December 31, 2024, SCWorx reported sales of $2.99 million, with a net loss of $1.14 million, highlighting the challenges and opportunities within this specialized market.

SCWorx operates by integrating its products and services to deliver comprehensive solutions for healthcare organizations. Their business model revolves around two primary segments: healthcare technology solutions and data management and consulting services. In 2023, healthcare technology solutions accounted for $4.2 million, or 62%, of the total revenue, while data management and consulting services contributed $2.6 million, or 38%.

SCWorx Corp. (WORX) History

The story of SCWorx Corp. begins with its founding, marking the start of its journey in the data solutions sector. Understanding the roots of the company provides a foundation for grasping its subsequent evolution and strategic direction.

SCWorx Corp. Founding Timeline

Year established

SCWorx Corp. was established in 2010.

Original location

The company was originally located in New York.

Founding team members

The key figures in the establishment of SCWorx Corp. included:

• Marc Schessel: As the founder and former CEO, Schessel played a pivotal role in the company's early development and strategic direction.
• Tim Hannibal: Former President and COO, Hannibal contributed significantly to the company’s operational framework and growth strategies.

Initial capital/funding

Information regarding the initial capital and funding for SCWorx Corp. is not readily available in the provided search results.

SCWorx Corp. Evolution Milestones

SCWorx Corp. Transformative Moments

• Leadership Transitions: The changes in leadership, particularly the appointments of Marc Schessel and later Dr. John Chi as CEO, have marked significant shifts in the company's strategic direction.
• Shift in Focus (2020): The brief pivot to pursue PPE opportunities in 2020 during the pandemic was a transformative moment, reflecting the company's agility and willingness to adapt to changing market conditions.
• Acquisition and Merger (2024): The acquisition and merger with a company controlled by Dr. John Chi in 2024 represents a major turning point, potentially reshaping the company's future and strategic focus.

To gain further insights into the company's guiding principles, explore the Mission Statement, Vision, & Core Values of SCWorx Corp. (WORX).

SCWorx Corp. (WORX) Ownership Structure

SCWorx Corp. has a mix of institutional, retail, and insider ownership, which influences its governance and strategic direction.

SCWorx Corp.'s Current Status

As of April 2025, SCWorx Corp. is a publicly traded company, listed on the OTC market under the ticker symbol WORX. This means that its shares are available for purchase by the general public, and the company is subject to certain regulatory requirements and reporting standards.

SCWorx Corp.'s Ownership Breakdown

Understanding the ownership structure of SCWorx Corp. provides insights into who has influence over the company's decisions. Here's a breakdown of the ownership composition:

SCWorx Corp.'s Leadership

The leadership team is responsible for the day-to-day management and strategic direction of SCWorx Corp.

• Tim Hannibal serves as the Chief Executive Officer.

For more insights into SCWorx Corp.'s financials, check out: Breaking Down SCWorx Corp. (WORX) Financial Health: Key Insights for Investors

SCWorx Corp. (WORX) Mission and Values

SCWorx Corp. aims to deliver advanced data solutions and services, emphasizing integrity and value creation for its clients and stakeholders.

SCWorx Corp.'s Core Purpose

Official mission statement

As of now, there is no stand-alone official mission statement of SCWorx Corp. However, their core purpose can be inferred from their business activities and company updates. SCWorx is dedicated to:

• Providing advanced data solutions and services to improve supply chain management and data accuracy.
• Focusing on integrity, transparency, and value creation for clients and stakeholders.
• Optimizing business processes through data-driven insights and technological innovation.

Vision statement

SCWorx Corp.'s vision is to be a leader in data solutions, recognized for its ability to transform complex data into actionable insights. This vision includes:

• Becoming a leading provider of comprehensive data solutions across various industries.
• Empowering clients with the insights needed to make informed decisions and improve operational efficiency.
• Driving innovation in data management and supply chain optimization through continuous technological advancement.

Company slogan/tagline

Currently, SCWorx Corp. does not have a widely publicized official slogan or tagline. However, considering their focus, a fitting tagline might emphasize data accuracy and efficiency. To learn more about SCWorx Corp., explore Breaking Down SCWorx Corp. (WORX) Financial Health: Key Insights for Investors.

SCWorx Corp. (WORX) How It Works

SCWorx Corp. operates as a solutions provider, focusing on data management and related services primarily for the healthcare industry, helping organizations enhance data accuracy and operational efficiency.

SCWorx Corp.'s Product/Service Portfolio

SCWorx Corp.'s Operational Framework

SCWorx operates through a structured framework designed to deliver value to its healthcare clients. Key aspects of their operational model include:

• Data Integration and Cleansing: SCWorx integrates data from various sources within a healthcare organization, such as supply chain systems, ERP systems, and clinical databases. The data is then cleansed, standardized, and validated to ensure accuracy and consistency.
• Data Analytics and Reporting: The company provides advanced analytics and reporting capabilities that allow clients to gain insights into their data, identify trends, and make informed decisions. This includes spend analytics, contract compliance monitoring, and supply chain performance analysis.
• Technology Platform: SCWorx utilizes a proprietary technology platform that supports its data management and analytics solutions. The platform is designed to be scalable, secure, and interoperable with other healthcare IT systems.
• Client Support and Services: SCWorx offers ongoing support and services to its clients, including implementation, training, and consulting. This ensures that clients can effectively use the company's solutions and achieve their desired outcomes.

SCWorx Corp.'s Strategic Advantages

SCWorx possesses several strategic advantages that enable it to compete effectively in the healthcare data management market:

• Specialized Focus: SCWorx focuses exclusively on the healthcare industry, giving it a deep understanding of the unique data management challenges and requirements of healthcare providers.
• Proprietary Technology: The company's proprietary technology platform provides a competitive edge, offering advanced data management and analytics capabilities that may not be available from other vendors.
• Proven Track Record: SCWorx has a proven track record of delivering results for its clients, helping them to improve data quality, reduce costs, and enhance operational efficiency.
• Strong Client Relationships: The company has established strong relationships with its clients, which are based on trust, collaboration, and a commitment to customer satisfaction.

To gain more insights into the investors of SCWorx, explore this profile: Exploring SCWorx Corp. (WORX) Investor Profile: Who’s Buying and Why?

SCWorx Corp. (WORX) How It Makes Money

SCWorx Corp. primarily generates revenue through its supply chain management software solutions, which help healthcare providers identify and reduce costs associated with their purchased services and products.

[Company's] Revenue Breakdown

As of now, specific details about the company's revenue streams, their percentage of the total revenue, and their growth trends are not available for public consumption for the fiscal year 2024. Typically, a company's revenue streams might include software subscriptions, service fees, and potentially data analytics services.

[Company's] Business Economics

The business economics of the company relies on several key factors:

• Value Proposition: The company offers cost-saving solutions to healthcare providers, which is a strong value proposition in a market that is consistently looking to reduce expenses.
• Market Position: The company's ability to maintain and grow its market share depends on its technology, customer service, and pricing strategies.
• Scalability: Software-based businesses often have high scalability, meaning that as they acquire more customers, their costs do not necessarily increase proportionally.
• Customer Retention: Recurring revenue through subscriptions is vital, so retaining customers is more cost-effective than acquiring new ones.

[Company's] Financial Performance

As of April 2025, comprehensive financial performance details, such as revenue, net income, and growth rates for the fiscal year 2024, are not readily available in the provided search results. Monitoring key performance indicators (KPIs) would offer insights into the company’s financial health.

• Revenue Growth: Indicates the rate at which the company's sales are increasing.
• Gross Margin: Shows the profitability of the company's products or services, calculated as revenue minus the cost of goods sold.
• Net Income: The company's profit after all expenses, including taxes and interest, are paid.
• Cash Flow: The amount of cash the company generates and uses, which is essential for funding operations and investments.

To understand more about the company's mission, vision, and core values, you can find additional details here: Mission Statement, Vision, & Core Values of SCWorx Corp. (WORX).

SCWorx Corp. (WORX) Market Position & Future Outlook

SCWorx Corp. faces a dynamic market landscape with opportunities for growth balanced by significant challenges. The company's future success hinges on its ability to capitalize on emerging opportunities while mitigating potential risks.

Competitive Landscape

It is challenging to accurately assess the current market share of SCWorx and its competitors with precise figures as of April 2025, due to the dynamic nature of the data solutions and e-commerce sectors. However, we can provide a generalized competitive landscape based on available information and industry trends.

Opportunities & Challenges

Industry Position

SCWorx operates in the competitive data solutions and supply chain management sectors. Here’s a look at their industry positioning:

• Niche Player: SCWorx occupies a specific niche, focusing on data cleansing and related services, setting it apart from broad-based IT service providers.
• Technology Adoption: Keeping pace with technological advancements is crucial for SCWorx to maintain a competitive edge.
• Mission Statement, Vision, & Core Values of SCWorx Corp. (WORX).