TORONTO, Jan. 17, 2022 (GLOBE NEWSWIRE) -- MCI Onehealth Technologies Inc. (“MCI”) (TSX: DRDR), a clinician-led healthcare technology company focused on increasing access to and quality of healthcare, is pleased to provide an update on organic growth across its integrated high-performance healthcare network. At the end of 2021, overall patient visits remained strong despite pandemic conditions. MCI’s Corporate Health Solutions, Khure Health and Executive Medical Concierge Canada each delivered record years, with year-over-year revenue growth in excess of 70%, 50% and 80% respectively.
“In supporting corporate clients with leading healthcare delivery, MCI Corporate Health Solutions has become one of the fastest growing business streams for us,” said Dr. Alexander Dobranowski, CEO of MCI. “We expect to see some continued momentum as we pivot beyond the immediate needs of the COVID-19 pandemic and consistently advance market expansion and maximize corporate health growth opportunities. In the context of the pandemic, corporations have never been more interested in helping secure effective and accessible healthcare for their employees. We’re seeing that in the strong growth of MCI Corporate Health Solutions as well as in our concierge healthcare offering which has nearly doubled its client roster in the last year.”
MCI Onehealth has made significant progress towards one of its leading objectives of growing privately paid-for services through MCI Corporate Health Solutions, achieving multiple new successes with a strong industry presence in the education, travel, transportation, manufacturing, and healthcare sectors during 2021 -- delivering a record year with more than 70% revenue growth year-over-year. Program developments and expansions include national travel health and immunization consultations, COVID-19 vaccination clinic delivery for up to 3,000 employees of Bombardier in January 2022, COVID-19 vaccination medical exemption review, as well as capacity for large scale rapid antigen testing, PCR testing, and audit validation of vaccination status. Notable corporate clients and partnerships include Gerdau Ameristeel, Durham Regional Police Services, Destination Toronto, Metrolinx, Canadian Broadcast Corporation, Intact Insurance, Coca Cola Ltd. and MHI Aerospace. The numerous protocols established around COVID-19 have greatly increased the need for efficient and reliable testing processes, which MCI Corporate Health Solutions has been able to facilitate and manage for a growing number of clients. MCI Corporate Health Solutions became the preferred vendor for Ryerson University for its student residence move-in procedures, as well as ongoing program management for COVID-19 self-testing, declaration and onsite testing. Noteworthy programs for Destination Toronto include testing at Hockey Hall of Fame Induction Weekend and Mirvish Productions, as well as upcoming events throughout 2022.
In further expansion and development, MCI Corporate Health Solutions will be leveraging MCI’s proprietary MCI Connect patient-experience platform in 2022 as part of its corporate programs, creating a unique suite of digitally-available services, modernizing offerings for the occupational and corporate health market.
“We’re taking big strides along our data roadmap, as well,” said Dobranowski. “Our subsidiary, Khure Health, while securing fresh contracts among top pharmaceutical manufacturers and delivering a record year with more than 50% revenue growth, continues to expand its AI platform, having added 25 new rare pathologies developed in partnership with key opinion-leading specialists, bringing us to 80 rare disease AI algorithms, with another 20 currently in development. More algorithms for rare diseases means physicians can help more patients with this platform.”
Khure Health is driving new capabilities for physicians in proactive and personalized medicine, launching an accredited education offering for physicians that is available on the platform. Physicians will now be able to instantly screen their practice using algorithms based on the educational topic and optimize patient care based on their learnings immediately. Khure Health, and its president were recently awarded Digital Health Innovator of the Year by Digital Health Canada.
“Khure’s success, as well as the ongoing high volume of patient interactions in our clinics despite Omicron, continues to be a key component in expanding the opportunity for high-margin services that leverage de-identified data for both clinical and commercial applications, accelerating our data-driven, precision medicine roadmap,” added Dobranowski.
About MCI:
MCI is a healthcare technology company focused on empowering patients and doctors with advanced technologies to increase access, improve quality, and reduce healthcare costs. As part of the healthcare community for over 30 years, MCI operates one of Canada’s leading primary care networks with 25 clinics, serves nearly one million patients annually and had over 200,000 telehealth visits last year. MCI additionally offers an expanding suite of occupational health service offerings that support a growing list of nearly 500 corporate customers. Led by a proven management team of doctors and experienced executives, MCI remains focused on executing a strategy centered around acquiring technology and health services that complement the company’s current roadmap. For more information, visit mcionehealth.com.
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Forward-Looking Statements
This press release contains “forward‐looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation, which reflect MCI’s current expectations regarding future events, including statements relating to: continued momentum in and expansion of MCI’s Corporate Health Services offerings, the use of the MCI Connect platform to expand MCI’s Corporate Health Services offerings in 2022, and continued expansion of the Khure Health AI platform. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of words or phrases such as “continue”, “opportunity”, “upcoming”, “in development” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” occur. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond MCI’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include difficulties or delays in developing and implementing new technologies and services; technologies and services not functioning as expected, third parties not using technologies and services as expected, economic conditions making technologies and services less attractive than anticipated, competitors in the industry, the possibility of a breakdown in the relationship between MCI and its commercial partners; and other factors discussed under “Risk Factors” in MCI’s annual information form for the year ended December 31, 2020, which is available under MCI’s profile on SEDAR at www.sedar.com. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, MCI does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
