Primary Care Companies are Already Seeing Record Revenues December 30, 2020 - Baystreet.ca With a fragmented healthcare system, primary care network companies are quickly growing with bigger demand. For example, according to Oak Street Health, it “generated record revenue of $217.9 million, exceeding the top end of the guidance range we have communicated to investors. This represents an increase of 57% from third quarter 2019... We cared for roughly 59,500 at-risk patients, up 38% from third quarter 2019. We generated this patient growth despite essentially putting a halt on our community outreach and marketing efforts from early spring through midsummer,” as noted by Wall Street Reporter. In addition, Skylight Health Group “is now at an inflection point with a $20 million run rate, positive EBITDA reached in Q2 2020 - a profitable base of operations, no long-term debt and cash balance of $10 million. In his presentation, Skylight CEO Prad Sekar explains how the company can increase revenues organically by about 10X, as it optimizes clinics for profitability by expansion of services to the existing patient base, with its proven business model. Significantly, Skylight has over $50 million of acquisitions in the pipeline - and growing.” From here, growth could continue at a strong pace. For one, the healthcare system as is, is fragmented and broken. Two, according to analysts at Mackie Research, “Approx. 33M Americans remain uninsured mainly due to high costs of insurance coverage, most of which are in low-income families and have at least one worker in the family. People without medical insurance have worse access to care than people who are insured. Those uninsured often face unaffordable medical bills when they seek care. Addressing the high uninsured rate is believed to be an urgent and unmet need in the U.S. health care system.” Three, in an effort to help address the need for better healthcare, multi-specialty health companies are stepping in to help lower healthcare spending, and improve health outcomes. That’s creating opportunity for Skylight Health Group Inc. (CSE:SHG)(OTCQB:CBIIF), Oak Street Health Inc. (NYSE:OSH), WELL Health Technologies Corp. (TSX:WELL)(OTC:WLYYF), 1Life Healthcare Inc. (NASDAQ:ONEM), and Amazon.com Inc. (NASDAQ:AMZN). Skylight Health Group Inc. (CSE:SHG)(OTCQB:CBIIF) BREAKING NEWS: Skylight Health Group Inc., one of the largest multi-specialty healthcare systems in the United States, is pleased to announce that it has closed on the acquisition of Healthcare Resources Management LLC which operates Perimeter Pain and Primary Clinic in Cookeville, Tennessee. The Company previously announced the Letter of Intent with HRM on December 3, 2020. The completed acquisition of HRM expands the Company’s bricks and mortar and telemedicine services to 15 States and will add 12,000 new patients to its current roster of 120,000. HRM has been operating Perimeter in Cookeville for over 7 years with strong patient retention. Services to patients include primary care, chronic pain management, interventional procedures, weight management, regenerative medicine and aesthetics. Services provided by Perimeter are primarily reimbursed through insurance carriers including Medicare, Medicaid and other commercial payors. The Company expects to see continued growth in patient registrations and visits as Perimeter continues to thrive among the challenges most clinics have faced due to the recent COVID-19 pandemic. Further, the Company will work quickly to expand on the current offering of services by leveraging its current telemedicine infrastructure to provide access to patients across the state of Tennessee. Services offered by Perimeter will apply to Skylight Health’s entire patient base. These services are immediately accretive as they allow the Company to expand complementary billable services. Patients will continue to benefit from the expansion of services in-house. The Company will benefit by expanding the per patient insurable revenue share-of-wallet by retaining these services internally. “Perimeter represents the first of complementary non-primary care acquisitions and is in direct alignment with our strategy to expand on services offered to our existing patient base nationally,” said Prad Sekar, CEO, Skylight Health. “Adding vital services like chronic pain management, interventional procedures and other from Perimeter will benefit tens of thousands of our current patients and will be deployed nationally within the existing framework of payor contracts in each state we are organically establishing over the next year.” SHG has acquired 100% of the shares of HRM for a transaction value in cash of CAD 1.03 million representing an EBITDA multiple of 2.6x. Perimeter reported revenues in 2019 of CAD 2.2 million and net income of CAD 400,000. Other related developments from around the markets include: Oak Street Health Inc. (NYSE:OSH), a network of value-based primary care centers for adults on Medicare, is providing free rapid CV-19 tests to all members of the Chicago community. In collaboration with the City of Chicago, the primary care provider has already completed more than 2,500 tests, and is welcoming anyone who wants to be tested. The service is completely free, does not require an appointment, and is offered to all people regardless of symptoms, exposure, or insurance status. “Testing remains critical to containing the spread of COVID-19 and keeping Chicagoans safe,” said Christina Anderson, Deputy Commissioner, Chicago Department of Public Health. “We’re grateful for Oak Street Health’s leadership and effort to broaden testing access to those who need it most. We remain committed to allocating resources and providing support to our partners who are on the frontline of this pandemic, working every day to increase access to testing in communities hit the hardest.” WELL Health Technologies Corp. (TSX:WELL)(OTC:WLYYF) a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, is pleased to provide the following corporate update based on preliminary results received to date. WELL has closed seven transactions in fiscal Q4 so far, propelling the Company to an annualized revenue run-rate of more than $94M. In addition, based on results experienced thus far in Q4, WELL expects to be profitable on an Adjusted EBITDA(1) basis for the quarter. WELL's Digital Health Apps Business Unit is thriving with significant sequential organic and inorganic growth experienced in Q4 so far mainly due to record telehealth revenues achieved in November. Both US (Circle Medical) and Canadian telehealth subsidiaries continued their strong performance and turned in profitable results for the month of November. WELL's Allied Health business unit is performing exceptionally well with revenue of the Easy Allied subsidiary increasing by over 40% on a year-over-year basis in November 2020 compared to November of last year. 1Life Healthcare Inc. (NASDAQ:ONEM) announced financial results for the third quarter ended September 30, 2020. “We are pleased to have reached new heights in performance this quarter--with our membership surpassing half of a million members and quarterly total net revenue exceeding $100 million for the first time,” said Amir Dan Rubin, Chair & CEO of One Medical. “We are further seeing how One Medical’s human-centered and technology-powered model is delivering impacts for multiple key stakeholders, advancing our efforts to transform healthcare at scale.” Amazon.com Inc.’s (NASDAQ:AMZN) Amazon Web Services, Inc. announced Amazon HealthLake, a HIPAA-eligible service for healthcare and life sciences organizations. Amazon HealthLake aggregates an organization’s complete data across various silos and disparate formats into a centralized AWS data lake and automatically normalizes this information using machine learning. The service identifies each piece of clinical information, tags, and indexes events in a timeline view with standardized labels so it can be easily searched, and structures all of the data into the Fast Healthcare Interoperability Resources (FHIR) industry standard format for a complete view of the health of individual patients and entire populations. As a result, Amazon HealthLake makes it easier for customers to query, perform analytics, and run machine learning to derive meaningful value from the newly normalized data. Organizations such as healthcare systems, pharmaceutical companies, clinical researchers, health insurers, and more can use Amazon HealthLake to help spot trends and anomalies in health data so they can make much more precise predictions about the progression of disease, the efficacy of clinical trials, the accuracy of insurance premiums, and many other applications. Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Skylight Health Group Inc. by a third party. We own ZERO shares of Skylight Health Group Inc. Please click here for full disclaimer. Contact Information: 2818047972 ty@LifeWaterMedia.com
Primary Care Companies are Already Seeing Record Revenues December 30, 2020 - Baystreet.ca With a fragmented healthcare system, primary care network companies are quickly growing with bigger demand. For example, according to Oak Street Health, it “generated record revenue of $217.9 million, exceeding the top end of the guidance range we have communicated to investors. This represents an increase of 57% from third quarter 2019... We cared for roughly 59,500 at-risk patients, up 38% from third quarter 2019. We generated this patient growth despite essentially putting a halt on our community outreach and marketing efforts from early spring through midsummer,” as noted by Wall Street Reporter. In addition, Skylight Health Group “is now at an inflection point with a $20 million run rate, positive EBITDA reached in Q2 2020 - a profitable base of operations, no long-term debt and cash balance of $10 million. In his presentation, Skylight CEO Prad Sekar explains how the company can increase revenues organically by about 10X, as it optimizes clinics for profitability by expansion of services to the existing patient base, with its proven business model. Significantly, Skylight has over $50 million of acquisitions in the pipeline - and growing.” From here, growth could continue at a strong pace. For one, the healthcare system as is, is fragmented and broken. Two, according to analysts at Mackie Research, “Approx. 33M Americans remain uninsured mainly due to high costs of insurance coverage, most of which are in low-income families and have at least one worker in the family. People without medical insurance have worse access to care than people who are insured. Those uninsured often face unaffordable medical bills when they seek care. Addressing the high uninsured rate is believed to be an urgent and unmet need in the U.S. health care system.” Three, in an effort to help address the need for better healthcare, multi-specialty health companies are stepping in to help lower healthcare spending, and improve health outcomes. That’s creating opportunity for Skylight Health Group Inc. (CSE:SHG)(OTCQB:CBIIF), Oak Street Health Inc. (NYSE:OSH), WELL Health Technologies Corp. (TSX:WELL)(OTC:WLYYF), 1Life Healthcare Inc. (NASDAQ:ONEM), and Amazon.com Inc. (NASDAQ:AMZN). Skylight Health Group Inc. (CSE:SHG)(OTCQB:CBIIF) BREAKING NEWS: Skylight Health Group Inc., one of the largest multi-specialty healthcare systems in the United States, is pleased to announce that it has closed on the acquisition of Healthcare Resources Management LLC which operates Perimeter Pain and Primary Clinic in Cookeville, Tennessee. The Company previously announced the Letter of Intent with HRM on December 3, 2020. The completed acquisition of HRM expands the Company’s bricks and mortar and telemedicine services to 15 States and will add 12,000 new patients to its current roster of 120,000. HRM has been operating Perimeter in Cookeville for over 7 years with strong patient retention. Services to patients include primary care, chronic pain management, interventional procedures, weight management, regenerative medicine and aesthetics. Services provided by Perimeter are primarily reimbursed through insurance carriers including Medicare, Medicaid and other commercial payors. The Company expects to see continued growth in patient registrations and visits as Perimeter continues to thrive among the challenges most clinics have faced due to the recent COVID-19 pandemic. Further, the Company will work quickly to expand on the current offering of services by leveraging its current telemedicine infrastructure to provide access to patients across the state of Tennessee. Services offered by Perimeter will apply to Skylight Health’s entire patient base. These services are immediately accretive as they allow the Company to expand complementary billable services. Patients will continue to benefit from the expansion of services in-house. The Company will benefit by expanding the per patient insurable revenue share-of-wallet by retaining these services internally. “Perimeter represents the first of complementary non-primary care acquisitions and is in direct alignment with our strategy to expand on services offered to our existing patient base nationally,” said Prad Sekar, CEO, Skylight Health. “Adding vital services like chronic pain management, interventional procedures and other from Perimeter will benefit tens of thousands of our current patients and will be deployed nationally within the existing framework of payor contracts in each state we are organically establishing over the next year.” SHG has acquired 100% of the shares of HRM for a transaction value in cash of CAD 1.03 million representing an EBITDA multiple of 2.6x. Perimeter reported revenues in 2019 of CAD 2.2 million and net income of CAD 400,000. Other related developments from around the markets include: Oak Street Health Inc. (NYSE:OSH), a network of value-based primary care centers for adults on Medicare, is providing free rapid CV-19 tests to all members of the Chicago community. In collaboration with the City of Chicago, the primary care provider has already completed more than 2,500 tests, and is welcoming anyone who wants to be tested. The service is completely free, does not require an appointment, and is offered to all people regardless of symptoms, exposure, or insurance status. “Testing remains critical to containing the spread of COVID-19 and keeping Chicagoans safe,” said Christina Anderson, Deputy Commissioner, Chicago Department of Public Health. “We’re grateful for Oak Street Health’s leadership and effort to broaden testing access to those who need it most. We remain committed to allocating resources and providing support to our partners who are on the frontline of this pandemic, working every day to increase access to testing in communities hit the hardest.” WELL Health Technologies Corp. (TSX:WELL)(OTC:WLYYF) a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, is pleased to provide the following corporate update based on preliminary results received to date. WELL has closed seven transactions in fiscal Q4 so far, propelling the Company to an annualized revenue run-rate of more than $94M. In addition, based on results experienced thus far in Q4, WELL expects to be profitable on an Adjusted EBITDA(1) basis for the quarter. WELL's Digital Health Apps Business Unit is thriving with significant sequential organic and inorganic growth experienced in Q4 so far mainly due to record telehealth revenues achieved in November. Both US (Circle Medical) and Canadian telehealth subsidiaries continued their strong performance and turned in profitable results for the month of November. WELL's Allied Health business unit is performing exceptionally well with revenue of the Easy Allied subsidiary increasing by over 40% on a year-over-year basis in November 2020 compared to November of last year. 1Life Healthcare Inc. (NASDAQ:ONEM) announced financial results for the third quarter ended September 30, 2020. “We are pleased to have reached new heights in performance this quarter--with our membership surpassing half of a million members and quarterly total net revenue exceeding $100 million for the first time,” said Amir Dan Rubin, Chair & CEO of One Medical. “We are further seeing how One Medical’s human-centered and technology-powered model is delivering impacts for multiple key stakeholders, advancing our efforts to transform healthcare at scale.” Amazon.com Inc.’s (NASDAQ:AMZN) Amazon Web Services, Inc. announced Amazon HealthLake, a HIPAA-eligible service for healthcare and life sciences organizations. Amazon HealthLake aggregates an organization’s complete data across various silos and disparate formats into a centralized AWS data lake and automatically normalizes this information using machine learning. The service identifies each piece of clinical information, tags, and indexes events in a timeline view with standardized labels so it can be easily searched, and structures all of the data into the Fast Healthcare Interoperability Resources (FHIR) industry standard format for a complete view of the health of individual patients and entire populations. As a result, Amazon HealthLake makes it easier for customers to query, perform analytics, and run machine learning to derive meaningful value from the newly normalized data. Organizations such as healthcare systems, pharmaceutical companies, clinical researchers, health insurers, and more can use Amazon HealthLake to help spot trends and anomalies in health data so they can make much more precise predictions about the progression of disease, the efficacy of clinical trials, the accuracy of insurance premiums, and many other applications. Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Skylight Health Group Inc. by a third party. We own ZERO shares of Skylight Health Group Inc. Please click here for full disclaimer. Contact Information: 2818047972 ty@LifeWaterMedia.com