Premier Health Group Inc. Provides Corporate Update
VANCOUVER, British Columbia, October 10, 2018 – Premier Health Group (CSE: PHGI, OTCQB: PHGRF) (the “Company” or “Premier Health”), a Company focused on developing innovative health care approaches that combine human skill based expertise with emerging technologies for the health care industry, is pleased to provide a corporate update.
- Strategic Acquisition: HealthVue Medical Clinics – over 100,000 patients;
- Financing – Strong cash balance;
- Technology Development – Reviewing potential technology partners for a telemedicine app development;
- Expansion Plans – New clinic openings, acquisitions (clinic, technology, patients), cannabis clinic(s) and partnerships;
Premier Health successfully acquired HealthVue Medical Clinics (“HealthVue”) in August. With this acquisition, Premier was able to instantly enter the primary care clinic and potentially lucrative healthcare technology business. HealthVue is a group of four Greater Vancouver based fully integrated, paperless and electronic medical record based medical clinics with a 10-year history, 22 healthcare professionals and over 100,000 active patients. The clinics have seen revenue growth in excess of 25% year over year for the past 3 years and thus far accounted for over 36,000 patient visits in 2018. HealthVue will open its 5th clinic in Q4-2018.
The Company completed a CAD $3.55 million financing in August and $1 million was used for the acquisition of HealthVue. The Company currently has no debt and is well capitalized to strategically acquire additional clinics as well as build out new clinics.
HealthVue has been aggressively testing various healthcare technologies and services to gain feedback from patients and healthcare professionals. The research has shown a strong acceptance of the use of 24/7 online booking by patients allowing better access and decreased clinic overhead. HealthVue has also tested telemedicine acceptance in a pilot program and found incredible excitement by all parties. “Patients have found that connecting with their healthcare professional from the convenience of their work or home to be extremely revolutionary, so much so that many patients in the pilot used the service repeatedly,” said Dr. Essam Hamza, CEO of Premier Health. “Additionally, doctors have discovered greater access to patients and the flexibility to work more efficiently from both the office and home. “
Based on the positive feedback from the patients and healthcare professionals, Premier has been reviewing potential technology partners for the development of a propriety and comprehensive telemedicine app.
The Company is currently reviewing a pipeline of strategic clinic acquisitions and scouting new locations and expects to close on two of these opportunities in Q4-2018.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer
About Premier Health
Premier Health is a Canadian company that is strategically poised to take advantage of business opportunities in the global health care industry. We are developing innovative health care approaches that combine human skill based expertise with emerging technologies, and will set the gold standard for services in locations of interest worldwide. Premier Health’s subsidiary, HealthVue is focused on developing proprietary technology to deliver quality healthcare through the combination of connected primary care clinics with telemedicine and artificial intelligence (AI). We currently have an ecosystem of over 100,000 active patients and have plans to rapidly increase that number both domestically and internationally. The HealthVue team has a strong track record of successfully creating value in healthcare and technology enterprises. The Management team has deep clinical, financial and operational expertise and a passion for improving healthcare for all patients.
This news release contains forward-looking statements that are based on Premier Health’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to the implementation of its shareholder communications initiative and the timing thereof. Although Premier Health believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and Premier Health undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
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Premier Health Group Inc.