The current health care system in the United States is a disaster. It can be nice; It’s a disaster. Insurers are driving a significant change in their reimbursement models to improve health and reduce costs. This change begins at the source of health care: with primary care physicians. Insurers reward primary care providers who can shift their business model from the “old model” of fee-for-service (think: high traffic, overcharging, low quality of care) to the “new model” of care managed (think: preventive health care on a capitation basis). Further exposing how broken the healthcare system is, primary care physicians are overburdened. On average, these doctors can work 51 hours per week and see 20 patients per day. This is why major primary care providers, such as Skylight Health Group Inc. (TSXV: SHG) (OTCQX: SHGFF), Oak Street Health Inc. (NYSE: OSH), 1Life Healthcare Inc. (NASDAQ: ONEM), Teladoc Health Inc. (NYSE: TDOC), and Jack Nathan Medical Corp. (TSXV: JNH) help.
Look at Skylight Health Group Inc. (TSXV: SHG) (OTCQX: SHGFF) for example
Skylight Health Group Inc. (TSXV: SHG; OTCQX: SHGFF), a multi-state primary care management group in the United States, is pleased to announce that it has entered into an agreement with Raymond James Ltd., as sole bookrunner and co -principal underwriter and Stifel GMP as co-principal underwriter on behalf of a syndicate of underwriters (collectively the “Underwriters”) under which the Underwriters have agreed to purchase, in a take-over firm, 8,572,000 common shares of the company at a price of $ 1.40 per common share for gross proceeds of approximately $ 12 million.
The Company has granted the underwriters an over-allotment option, exercisable in whole or in part, at any time and from time to time, for a period of 30 days after the closing of the offering, to purchase at the issue price up to the number of additional ordinary shares corresponding to 15% of the number of ordinary shares sold under the placement.
The Company intends to use the net proceeds of the Offering to fund growth initiatives, including the execution of its M&A strategy, and for general corporate purposes. The Common Shares will be offered by way of a prospectus supplement filed in Alberta, British Columbia, Manitoba and Ontario to supplement the Company’s short form base shelf prospectus dated May 6, 2021.
The offering is expected to close on or around May 26, 2021 and is subject to market and other customary conditions, including approval by the TSX Venture Exchange and entering into a bought deal agreement between the Company and the underwriters.
Other related developments coming from all over the markets include:
Oak Street Health Inc., a network of value-driven primary care centers for adults on Medicare,
announced his intention to enter Oklahoma, Missouri and New Mexico, bringing its innovative model of care to thousands of new seniors across the country. The Company will open centers in Oklahoma City, Tulsa, St. Louis and Albuquerque this fall, increasing the number of states with Oak Street health centers to 19.
1Life Healthcare Inc. ad first quarter financial results ended March 31, 2021. “Through our human-centric, technology-powered model, we continue to perform, innovate and grow to delight more members with better health, better care and costs. reduced, ”said Amir Dan Rubin, President and CEO of One Medical. “In the first quarter, we continued to demonstrate significant impacts by offering record additions of members, by presenting reductions in the total cost of care and by developing new markets and partnerships with the healthcare network. Today, we are happy to announce new plans to enter Dallas-Fort Worth, Texas with Baylor Scott & White as the healthcare network partner. In addition to our nationwide telehealth services, we will soon be offering combined telehealth and in-person care services in 22 markets, extending the reach of our model to markets covering nearly 40% of the commercially insured population to United States. As we continue to grow across the country, our results demonstrate how One Medical can transform healthcare at scale.
Teladoc Health Inc., world leader in global virtual personal care, today announced a new partnership with Vivo, which is part of the Telefónica group, which will provide Brazilians with better access to health care, in particular through the use of telemedicine. The service, named Vida V Powered by Teladoc, is expected to launch next month and will be made available to all Brazilian consumers, including those who are not yet Vivo customers. Vida V is a digital health and wellness marketplace that will offer, among other solutions, telemedicine services to end customers and SMEs in Brazil.
Jack Nathan Medical Corp. announced his unaudited financial results for the third quarter ended October 31, 2020. The financial statements of Jack Nathan Health are prepared in accordance with International Financial Reporting Standards. “We went public at the end of the third quarter. This represents a significant milestone for our long-term growth plans to support patients and how they access high quality healthcare within their communities, through our relationship with Walmart. We are at an inflection point with a profitable, strong and sustainable foundation. As a result, we are ready and well funded to materially evolve and drive growth in revenue and bottom line, ”said George Barakat, CEO of Jack Nathan Health. “Over the coming year, we plan to achieve our five key objectives to allocate funds strategically and increase shareholder value.
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