Medical diagnostic imaging is arguably the most essential component of our healthcare system, helping to create a potential $45 billion global opportunity by 2027, says Allied Market Research. In additio0n, according to Markets and Markets, “The growth of this market is primarily driven by the increasing demand for early disease diagnosis and widening scope of clinical applications, rapidly growing geriatric population and the subsequent increase in the prevalence of associated diseases, technological advancements in diagnostic imaging industry, and increasing investments, funds, and grants by public-private organizations.” All a substantial catalyst for Leveljump Healthcare Corp. (TSXV:JUMP)(OTC:JMPHF), WELL Health Technologies Corp. (TSX:WELL)(OTC:WLYYF), CloudMD Software & Services Inc. (TSXV:DOC)(OTC:DOCRF), Reliq Health Technologies Inc. (TSXV:RHT)(OTC:RQHTF), and Skylight Health Group Inc. (NASDAQ:SLHG)(TSXV:SLHG).
Look at Leveljump Healthcare Corp. (TSXV:JUMP)(OTC:JMPHF), for example
Through its subsidiary, Canadian Teleradiology Services (CTS), Leveljump Healthcare Corp. is building a healthcare company focused on diagnostic imaging. The company delivers its services via B2B telehealth services as well as IHF diagnostic imaging centers. JUMP also owns and operates Leveljump Healthcare Technologies for the purpose of acquiring new, disruptive healthcare technologies. In addition, Leveljump Healthcare Corp. just provided a corporate update as part of its communication with existing shareholders and the broader markets.
CTS Operations continue to be strong throughout the first 7 months of the year, despite extensive lockdowns in the Ontario region that have recently been lifted. Emergency care has continued to be in high demand, and now that elective procedures are resuming, the demand for radiology reading is increasing. The company also notes a greater acceptance of telehealth services within both the health care ecosystem and within government, which may benefit operations in the future.
CTS has begun migrating its largest network of hospitals over to its new PACS workflow system that was previously announced. The extensive project should be completed in the fourth quarter and will help reduce costs and effect greater care for emergency room patients. Additionally, CTS continues to increase its gross margins with new radiologists that have joined the company.
Leveljump is working to identify potential acquisitions as we look to expand. With both organic growth and acquisitions, the company should be able to expand its healthcare services.
“Today’s update demonstrates the strength of the services we provide and the continuation of our vision to grow our company and increase profitability”, said Mitch Geisler, CEO. “As we return to more active lifestyles once again, we can see need for more of our teleradiology services and see potential opportunities for the future growth.”
Other related developments from around the markets include:
WELL Health Technologies Corp., a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, is pleased to announce its wholly owned subsidiary, CRH, has completed an accretive transaction of a 51% stake in Greater Washington Anesthesia Associates, a provider of gastro-intestinal (GI) related anesthesia services at two locations in Northern Virginia. Dr. Tushar Ramani, CEO of CRH, commented, "This marks our fourth acquisition since joining WELL and increases our footprint to a total of 77 endoscopy sites. This is also our second acquisition in Virginia, and we look forward to serving our patients along with our GI partners in this growing region, as we welcome the new practitioners to the CRH and WELL families."
CloudMD Software & Services Inc., a healthcare technology company revolutionizing the delivery of care, is pleased to announce that it has closed the previously announced acquisition of Oncidium Inc., one of Canada’s leading healthcare providers to employers. Oncidium has built a difficult-to-replicate ecosystem of over 500 clients servicing more than 2 million employees across Canada and more than 2,000 health care providers and medical assessors. The acquisition of Oncidium enables CloudMD to evolve its ecosystem of healthcare services through occupational health, medical management and assessment services. COVID-19 has accelerated the need for employers to have robust health and safety solutions resulting in increased demand for new approaches in the workplace. The new capabilities will be a key component of the Company’s Enterprise Health Solutions Division and provide Oncidum’s clients with access to our new connected healthcare platform.
Reliq Health Technologies Inc., a rapidly growing global telemedicine company that develops innovative Virtual Care solutions for the multi-billion dollar Healthcare market, announced that it has signed contracts with six new US primary care physician practices to provide its iUGO Care platform to their chronic disease patients.
Skylight Health Group Inc., a multi-state primary care management group in the United States, announced an expansion of their partnership with ClinEdge, one of North America’s leading clinical research groups, into the state of Colorado – a key market for Skylight Health. Skylight previously announced a partnership with ClinEdge for their Study Lead Generation Services to bring industry-sponsored clinical trials to one of its primary care clinics in Massachusetts. The success of this partnership in Massachusetts has led to an expansion of the initial contract, and Skylight has now been awarded its first Colorado-based research project through ClinEdge.
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