“The global diagnostic imaging market is projected to reach USD 35.0 billion by 2026 from USD 26.6 billion in 2021, at a CAGR of 5.7% from 2021 to 2026,” as noted by Markets and Markets. That’s 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).
In addition, according to Global Industry Analysis, “The global diagnostic imaging market is one of the most critical segments of the healthcare sector, driven by technological advancements, favorable demographic factors in developed regions, growing access to healthcare and rising income levels of the middle class population in developing regions. The market growth is fueled by increasing incidence of chronic diseases, rising awareness about benefits of early diagnosis, and constant expansion of the clinical application scope.”
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, the company just reported financial results for the first fiscal quarter ended June 30, 2021. All amounts are expressed in Canadian dollars.
Financial and Operational Highlights
- Revenues from Canadian Teleradiology Services, Inc. (“CTS”) operations hits record level with $1,639,913 in revenues for the second quarter.
- Gross profit from CTS operations was $331,891 for the quarter, a 20.2% margin.
- Year over Year Q1 revenue increase of $468,655, an increase of 40%.
- Q2 revenue increase compared to Q1 of 5%
- Revenue increased despite Covid 19 lockdowns that continued to limit hospital activity during the quarter.
- Clean balance sheet with no long-term debt
2021 Q2 Financial Results for Leveljump
- Revenues of $1,639,913 in Q2 and $3,131,771 for the six months ended June 30, 2021
- CTS net operating profit of $114,000 in Q2. $201,216 for the six months ended June 30, 2021.
- Adjusted EBITDA of $(323,000) for Q2 and $(523,000) for the six months ended June 30, 2021.
Management Comments
“Our operating subsidiary CTS had a strong second quarter and demonstrated a net profit position. Our negative EBITDA is primarily due to administrative costs for the parent company, and we are hopeful that those costs will be reduced in future quarters and with the revenue stream from future acquisitions and the growth of CTS, profits from the operating businesses will overshadow the costs of maintaining the public company.” Rob Landau, CFO.
“We are very pleased with our Q2 results that demonstrate our continued growth. We had another record quarter with increased demand for our radiology services.” said Mitch Geisler, CEO. “We continue to increase our gross margins, one of our main financial goals for this fiscal year, while also decreasing operating expenses. The Company continues to have a strong cash position with almost no debt, providing us flexibility to grow in a variety of ways.”
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 primary healthcare sector, announced its results for the second quarter of 2021 ended June 30, 2021. Hamed Shahbazi, Chairman and CEO of WELL commented, “Our practitioner enablement platform and momentum around our acquisitions are delivering extremely strong financial results. We are grateful to the healthcare practitioners and clinicians that provide outstanding care every day as well as the technology and administrative teams that support them. There are some key take-aways worth noting from these very strong results: firstly, Adjusted Gross Profit increased significantly by 615% YoY, and secondly, we achieved Adjusted Gross Margin percentage of almost 49%. Furthermore, during Q2, we closed the acquisition of CRH, followed by the acquisition of MyHealth in Q3 which now puts us on track for a proforma annualized revenue run-rate of almost $400 million and an Adjusted EBITDA run-rate approaching $100 million.”
CloudMD Software & Services Inc., a healthcare technology company revolutionizing the delivery of care, announces that it will report its second quarter 2021 financial results on Wednesday, August 25, 2021 after market close. Related earnings release materials can be found in the Investors section on CloudMD’s website. Management will be hosting an earnings conference call and webinar on the same day (Wednesday, August 25, 2021 at 2:00 pm Pacific Time / 5:00 pm Eastern Time) to review and discuss the quarterly operational highlights and financial results, followed by a question and answer period. Questions can be asked through the dial-in numbers only.
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. “We are pleased to announce that we are adding six new US physician practices and over 4,000 new patients to our iUGO Care platform,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “These primary care physician practices will be using our iUGO Care Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) modules. The average revenue from these contracts will be >$40 USD per patient per month. Onboarding with all six clients will begin this month and is expected to be completed in October. New client acquisition and patient onboarding has been accelerating significantly through July and we expect to continue to experience rapid growth in the business through the remainder of the year, and for the foreseeable future beyond 2021. The current quarter will be Reliq’s first full profitable quarter, which is a major milestone for the company.”
Skylight Health Group Inc., a multi-state primary care management group in the United States, announced its financial results for the second quarter ended June 30, 2021. “We are excited that we achieved our largest revenue quarter in the history of the Company. The second quarter continued the transformative growth that started in the first quarter of this year,” said Prad Sekar, CEO of Skylight Health. “We’ve identified two key growth areas that will remain a focus for the last half of the year and onwards: the growth through strategic acquisitions and the participation of value-based care under the Medicare Shared Savings program for our traditional Medicare patients beginning in 2022.
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. Leveljump Healthcare Corp. has paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares of LeveljumpHealthcare Corp. Please click here for full disclaimer.
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